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ECB to buy 60 billion euros in bonds per month from March

ECB to buy 60 billion euros in bonds per month from March
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European Central Bank President Mario Draghi has announced the ECB will purchase assets of 60 billion euros on a monthly basis from March 2015 to September 2016.

The ECB has agreed to begin a quantitative easing (QE) programme, meaning it will print money to buy the sovereign bonds.

Inflation in the euro zone has turned negative and the economy is flagging. Currently at minus 0.2 percent, inflation is far below the ECB’s target of 2 percent.

“Under this expanded programme, the combined monthly purchases of public and private sector securities will amount to 60 billion euros,” Draghi told a news conference.

“They are intended to be carried out until end-September 2016 and will in any case be conducted until we see a sustained adjustment in the path of inflation.”

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