ECB is falling way behind its own target for liquidity injections into the economy. Frankfurt has managed to shrink, not expand, its balance sheet last week, down EUR22.3 billion to EUR2.030 trillion which is roughly EUR970 billion short of the target.
Remember, ECB has set the target of expanding its balance sheet to EUR3 trillion at the last Governing Council meeting (although the target is 'soft') to bring it in line with 2012 average.
Here's the dynamic of the ECB balance sheet, courtesy of @Schuldensuehner
