Draghi says QE programme working better than expected

Frankfurt

MARIO Draghi said that the European Central Bank's quantitative-easing programme is working better than expected, even though the institution will take longer than intended to reach its inflation goal.

"We are satisfied with QE, as it has met and even surpassed our initial expectations," the ECB president said in an interview with Greece's Kathimerini published on Saturday. While "it presently appears that it will take somewhat longer than previously anticipated for inflation to come back to, and stabilise around, levels that we consider sufficiently close to 2 per cent," that is largely because of a drop in oil prices, he said.