ECB launches €60bln/month QE

  • Draghi: Launch of expanded asset purchase programme, which includes existing purchase programmes for asset-backed securities & covered bonds
  • Draghi: Combined monthly purchases will be €60 billion, to be carried out at least until end-Sept 2016
  • Draghi: Purchases until sustained adjustment in inflation path consistent with aim of inflation close to, but below 2% over the medium term
  • Draghi: Purchases start in March 2015 and include investment-grade euro area govt, agency and EU institution securities in sec market
  • Draghi: Purchases to be based on the Eurosystem NCBs’ shares in the ECB’s capital key

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