The European Central Bank announced on Thursday it will buy bonds worth 60 billion euros per month until September 2016, aiming to achieve a “sustained adjustment in the path of inflation”
European Central Bank President Mario Draghi said the purchases will start in March, potentially accounting to over one trillion euros.
“The combined monthly purchases of public and private sector securities will amount to €60 billion,” Draghi told a news conference. “They are intended to be carried out until end-September 2016 and will in any case be conducted until we see a sustained adjustment in the path of inflation.”
But Draghi also warned that eurozone governments must continue ‘implementing structural reforms’.
“It’s up to the governments to implement structural reforms. The more they do, the more our monetary policy will work,” Draghi added.
The massive bond-buying scheme comes after months of speculation and strong German opposition.