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April 15, 2014

ECB preparing to unleash unconventional monetary policy

“Mario Draghi has signalled that the European Central Bank is getting ready to unleash new unconventional monetary policy in a bid to fight low inflation.

“Speaking after the spring meetings of the International Monetary Fund in Washington on Saturday, the ECB president said the strengthening of the euro “requires further monetary stimulus”.

“His words came after he was pressurised all weekend over the dangers of allowing inflation to slide lower – by the IMF, finance ministers and central bank governors from all over the world.

“European central bankers have also used the weekend’s meetings in Washington to press the message that if the ECB takes further action, it is more likely to cut interest rates, possibly into negative territory, than commence a quantitative easing programme.”

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Read full Financial Times article here.

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