ECB's foray into bond buying may help Europe's rich get richer

London

EUROPEAN Central Bank president Mario Draghi, fighting a deflation threat in the euro region, may need to confront a concern more familiar to Americans: income inequality.

With interest rates almost at zero, Mr Draghi is moving into asset purchases to lift inflation to the ECB's target. The more he nears the kind of tools deployed by the Federal Reserve, the Bank of England (BOE) and the Bank of Japan, the more he risks making the rich richer, said economists including Nobel laureate Joseph Stiglitz.