Andas a dormir.... tambem cheguei a pouco..
ECB pledges to extend QE until March 2017 ‘or beyond’
European Central Bank (ECB) president Draghi arrives for a news conference after a meeting of the ECB Governing Council in St Julian's, outside Valletta...European Central Bank (ECB) president Mario Draghi (right) arrives for a news conference after a meeting of the ECB Governing Council in St Julian's, outside Valletta, Malta, October 22, 2015. European Central Bank President Mario Draghi said on Thursday monetary policy alone cannot solve the euro zone's economic problems and called on member countries to take additional actions alongside. REUTERS/Darrin Zammit Lupi MALTA OUT. NO COMMERCIAL OR EDITORIAL SALES IN MALTA©Reuters
The European Central Bank has pledged to continue its €60bn per month asset purchase programme until March 2017 “or beyond” after it cut a key interest rate to a historic low in an audacious attempt to bolster the eurozone’s tepid economic recovery.
Speaking at a press conference after the decision to cut the deposit rate from minus 0.2 per cent to minus 0.3 per cent, Mario Draghi, the ECB’s president, said the QE programme would run until March 2017, or until the institution’s governing council sees an improvement in inflation.
The ECB now sees inflation at 0.1 per cent in 2015, 1 per cent in 2016 and 1.6 per cent in 2017 — a downwards revision from earlier forecasts.
The euro extended gains as Mr Draghi spoke, reflecting concerns that the measures have proved less aggressive than markets had anticipated.
The single currency surged 2 per cent to $1.841 in early afternoon trading in London.
Mr Draghi said the ECB expects the region’s economic recovery to proceed, supported by monetary policy and structural reforms. Plus low oil prices should support private consumption and investment. However, the recovery “continues to be dampened” by weak growth in EMs and weak trade.
The ECB’s main refinancing rate remained at 0.05 per cent.
