The European central Bank, which
has left rates unchanged, confirmed Thursday that its
quantitative easing (QE) programme will continue at a rate of 80
billion euros a month up till March and then drop to 60 billion
from April to December, but the policy may change if the
scenario worsens.
It said QE will, no matter what, proceed until inflation
starts getting close to a 2% target.
German Finance Minister Wolfgang Schaeuble said the ECB was
doing a good job but its policy was creating "political
problems" in Germany - to which ECB chief Mario Draghi retorted
that its policy was benefitting German savers too.
Draghi said that "eurozone growth risks are oriented
downwards because of global factors".
He said there were signs of "a certain recovery on the global
level".
Draghi said that "the conditions of loans for households and
businesses continue to benefit" from ECB measures.
Draghi said inflation had risen recently due to energy prices
and it is expected to rise again in the short term but
underlying inflation pressures remain "modest" and a
"convincing upwards trend" is not expected.
Draghi said that "as the recovery consolidates, rates too
will rise, we have to be patient".
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