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OECD urges ECB to launch unlimited bond-buying
[DAVOS] The European Central Bank should launch unlimited buying of eurozone government bonds for as long as it takes to raise inflation and revive the economy, the head of the OECD think-tank said on Wednesday.
Speaking on the eve of a crucial decision on launching so-called quantitative easing by printing money to buy sovereign bonds, Angel Gurria, secretary-general of the Organisation for Economic Cooperation and Development, said ECB President Mario Draghi should be given a free hand for bold action.
"Let Mario go as far as he can. I don't think he should cap it," Mr Gurria told the World Economic Forum in Davos. "Don't say 500 billion (euros). Just say 'as far as we can, as far as we need it'."