Following a period of strong inflows in 2017 and early 2018, nonresident portfolio capital flows to emerging market economies (EMEs) started to reverse in late-April this year, with bond and equity fund withdrawals accumulating to date about $ billion.
Regarding non-standard monetary policy measures, we confirm that our net asset purchases, at the current monthly pace of € billion, are intended to run until the end of December 2017, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim.