Euro weakens as ECB leaves door open for more QE

Mario Draghi signalled that the European Central Bank is prepared to launch a fresh round of monetary stimulus as soon as March, bolstering a recovery on US and European equities in the wake of heavy losses this year.

The ECB president said it would “review and possibly reconsider” its monetary policy stance at its next meeting in six weeks — little more than a month after the ECB last unleashed a round of stimulus.

“We are not surrendering in front of these global factors,” he said, referring to the China slowdown and the falling oil price that have destabilised global markets in recent weeks.

The ECB has “the power, the willingness, the determination to act, and the fact that there are no limits to our action” to bring inflation up to its target of just below 2 per cent, he added. Policymakers, he said, would “absolutely reject” attempts to derail their efforts to raise inflation “without undue delay”.

His comments spurred a rebound in US and eurozone equities, sending the S&P 500 up 1.4 per cent as it rallied after the worst start to the year in two decades.

The post Euro weakens as ECB leaves door open for more QE appeared first on FXTM Blog.

Source:: Euro weakens as ECB leaves door open for more QE

About the Author
ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

Related Posts

Leave a Reply