The European Central Bank’s governing council has kept interest rates on hold and once again reaffirmed plans to maintain its quantitative easing programme at €80 billion to March 2017 or beyond if needed.
President Mario Draghi SAYS that the next meeting on 8 December “will define the coming months” as he warns the eurozone is subject to “downside risks”. He says there has been no discussion about extending QE beyond next March but that “an abrupt end” to quantitative easing is “unlikely”. He says the governing council had discussed “various options in case we are confronted with a shortage of purchasable bonds in some jurisdictions”
Interest rates are kept on hold in October
The ECB’s asset purchase target is unchanged at €80bn per month
Draghi signals next meeting in December will be key
Draghi says no discussion about extending QE beyond next March
By Mehreen Khan and Gavin Jackson