“The European Central Bank (ECB) will inject at least €1.1 trillion (£834bn) into the ailing eurozone economy. The ECB will buy €60bn bonds each month from banks until the end of September 2016, or even longer, in what is called quantitative easing (QE). QE in theory increases the supply of money, something that keeps interest rates low and encourages borrowing and therefore spending. The news sent the euro to an 11-year low against the against the US dollar. The ECB also said it would keep eurozone interest rates at 0.05%, a record low. Mr Draghi said the programme would be conducted ‘until we see a sustained adjustment in the path of inflation’.”
http://www.bbc.com/news/business-30933515
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