The European Central Bank (ECB) is also starting to exit QE

…first by reducing its monthly bond purchases, and then by cutting them altogether by the end of this year. This is set to happen despite the turbulence in Italian bond markets (the BTP 10-year yield hit 3.68% in the final quarter of this year on fears over Italy’s future in the Eurozone and the country’s debt sustainability), and also despite a stubborn core inflation rate stuck at around 1%, well below the ECB’s 2% target.