ECB ANNOUNCES IT WILL INJECT EUR 1.1 TRILLION INTO THE AILING EUROZONE
The European Central Bank (ECB) says it will inject at least €1.1 trillion into the ailing eurozone economy. The ECB will buy bonds worth €60bn per month until the end of September 2016 and possibly longer, in what is known as quantitative easing (QE), BBC reports.
The ECB has also said eurozone interest rates are being held at the record low of 0.05%, where they have been since September 2014.
ECB president Mario Draghi said the programme would begin in March.
The eurozone is flagging and the ECB is seeking ways to stimulate spending.
Earlier this month, figures showed the eurozone was suffering deflation, creating the danger that growth would stall as businesses and consumers shut their wallets, as they waited for prices to fall. Mr Draghi said the programme would be conducted "until we see a sustained adjustment in the path of inflation", which the ECB has pledged to maintain at close to 2%. He told a news conference the ECB would be purchasing euro-denominated investment grade securities issued by euro-area governments and agencies and European institutions.
The value of the euro fell following Mr Draghi's announcement, falling by more than a cent against the US dollar to $1.1472.
Копирано от standartnews.comThe European Central Bank (ECB) says it will inject at least €1.1 trillion into the ailing eurozone economy. The ECB will buy bonds worth €60bn per month until the end of September 2016 and possibly longer, in what is known as quantitative easing (QE), BBC reports.
The ECB has also said eurozone interest rates are being held at the record low of 0.05%, where they have been since September 2014.
ECB president Mario Draghi said the programme would begin in March.
The eurozone is flagging and the ECB is seeking ways to stimulate spending.
Earlier this month, figures showed the eurozone was suffering deflation, creating the danger that growth would stall as businesses and consumers shut their wallets, as they waited for prices to fall. Mr Draghi said the programme would be conducted "until we see a sustained adjustment in the path of inflation", which the ECB has pledged to maintain at close to 2%. He told a news conference the ECB would be purchasing euro-denominated investment grade securities issued by euro-area governments and agencies and European institutions.
The value of the euro fell following Mr Draghi's announcement, falling by more than a cent against the US dollar to $1.1472.
Копирано от standartnews.comThe European Central Bank (ECB) says it will inject at least €1.1 trillion into the ailing eurozone economy. The ECB will buy bonds worth €60bn per month until the end of September 2016 and possibly longer, in what is known as quantitative easing (QE), BBC reports.
The ECB has also said eurozone interest rates are being held at the record low of 0.05%, where they have been since September 2014.
ECB president Mario Draghi said the programme would begin in March.
The eurozone is flagging and the ECB is seeking ways to stimulate spending.
Earlier this month, figures showed the eurozone was suffering deflation, creating the danger that growth would stall as businesses and consumers shut their wallets, as they waited for prices to fall. Mr Draghi said the programme would be conducted "until we see a sustained adjustment in the path of inflation", which the ECB has pledged to maintain at close to 2%. He told a news conference the ECB would be purchasing euro-denominated investment grade securities issued by euro-area governments and agencies and European institutions.
The value of the euro fell following Mr Draghi's announcement, falling by more than a cent against the US dollar to $1.1472.
