Stoxx Europe 600 opens 0.3% higher at 385.44

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

ECB’s Draghi says bank could extend QE if warranted

European Central Bank President Mario Draghi on Tuesday highlighted the central bank’s dovish message on monetary policy, indicating that it could extend its bond-buying program if necessary. The ECB’s “anticipated ending of asset purchases in December this year is subject to incoming data confirming the medium-term inflation outlook,” Draghi said in speech at the bank’s annual economic conference in Sintra, Portugal. “Moreover, the [asset-purchase program] can always be used in case contingencies materialize that we do not currently foresee,” he said. The ECB last week said it would purchase €30 billion ($34.6 billion) a month of bonds through the end of September, and if data met its medium-term inflation outlook, it would reduce purchases to €15 billion a month through the end of December, then end them. Interest rates would remain at their ultra-low levels through at least the summer of 2019, the ECB said last week. The euro extended losses after Draghi’s remarks on Tuesday, trading at $1.1546 compared with $1.1624 late Monday in New York.

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

Leave a Reply