- Will buy ABS from Q4
- Purchase programs to last 2 years
- Will have sizeable impact on balance sheet
- Inflation outlook subdued
- Economic momentum has weakened
- Purchases should ease policy stance
- Measures will help push inflation closer to target
- Council unanimous in commitment to act if needed
- Survey data indicates loss in growth momentum
- Outlook for moderate recovery in 2015 in place
- Domestic demand bolstered by ECB policy and government reforms
- Risks to economic outlook are to the downside
- Economic slowdown may damp investments
- Geopolitical risks may damp confidence
- Insufficient structural reforms key downside risk to economy
- Sees inflation at low levels over coming months, before gradually rising in 2015, 2016
- Will monitor geopolitical and exchange rate developments
- Will monitor impact of low growth and policy pass through
- Structural reform efforts must gain momentum
As we’ve noted, several comments placing the onus on member state governments to pull their fingers out of their arses.
