The European Central Bank (ECB) has increased its base interest rates ten times before announcing a pause. During the October meeting, the Governing Council of this financial institution, which met in Athens, decided to halt the record-fast cycle of interest rate hikes. For many borrowers, the most pressing question is, “When will the reduction begin?” However, it is also worth considering the question of quantitative tightening.

As The Lithuania Tribune writes (quoting SEB’s Eastern Economic Outlook published in March 2012) Estonia’s growth fill fall to 1.5% in 2012 and increase again in 2013 reaching 2.5%. As a result of smaller demand in Sweden and Finland Estonian expansion is limited while high inflation continues. In 2011 Estonian GDP growth reached the level of 7.6% although a slowdon in the last quarter of the year was observed. Budget deficit is expected to reach…