European Central Bank President
Mario Draghi on Thursday said that that bank's quantitative
easing (QE) programme would continue for as long as it is needed
in a speech at the International Monetary Fund (IMF) in
Washington.
He added that it was took early for the ECB to declare
victory in the fight on dangerously low inflation levels, which
are seen as a threat to prospects of economic recovery.
Draghi said before QE was launched in March that the
programme would last around 18 months and be worth about 1.1
trillion euros.
The ECB chief also said that that bank's extraordinary
measures, including quantitative easing, were already having an
impact on the real economy.
"(The measures) have brought down the interest rates on
bank loans," Draghi said in the speech.
He said that, after having positive impacts on he credit
situation and investor expectations, the important thing is that
the bank's quantitative easing has "just as big an effect on
investments, consumer spending and inflation".
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