ECB presses ahead with quantitative easing, promises more action if necessary
[FRANKFURT] The European Central Bank's 60 billion euros per month asset purchase programme will continue until September 2016 or until inflation rises to its target, ECB President Mario Draghi said on Thursday.
"The asset purchase programmes continue to proceed smoothly," Mr Draghi told a news conference after the bank has left interest rates unchanged.
"If any factors were to lead to an unwarranted tightening of monetary policy, or if the outlook for price stability were to materially change, the (ECB) ... would respond to such a situation by using all the instruments available within its mandate," he said.
The ECB rolled out quantitative easing earlier this year to get the currency block out of deflation and its last forecast in June indicated that inflation would rise to the target of just under 2 per cent by 2017.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam National Assembly head resigns amid graft purge
China central bank flags bond investment risks to some financial institutions: sources
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027