ECB confirms QE, possible rise

(ANSA) - Rome, January 19 - 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".