ECB underwhelms on first day of quantitative easing
Purchases have been small and unless the ECB steps up the pace, there're doubts it could achieve its target
London
THE start of the European Central Bank's (ECB) quantitative easing programme left market participants disappointed on Monday with many asking how the bank will get to its targeted size of 60 billion euros (S$90 billion) a month.
The euro dived on Monday to a new 11.5-year low against the US dollar and Europe's main stock markets slumped as the ECB kicked off its 1.1-trillion-euro bond-buying programme. Sentiment was also weighed down by concerns over Greece, with Athens due to present its reform plans to Brussels in order to secure a financial lifeline.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations