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The ECB Can't Risk a Taper Tantrum

There's still not enough euro inflation to scale back quantitative easing.

With inflation in the euro zone starting to show signs of life, European Central Bank watchers are beginning to speculate about when quantitative easing might taper off. Germany's Bundesbank, which has been uncomfortable with the bond-buying program from the get-go, is likely to be a leading advocate of scaling back purchases. But there are significant risks to moving too soon.

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