The European Central Bank is predicted to officially extend its asset purchase programme beyond September 2016 in yet another attempt to drive up inflation and rekindle growth, a Reuters poll has found.
Launched just six months ago, the €60bn-a-month sovereign bond buying scheme was originally set to end a year from now.
The European Central Bank (ECB) has cut its inflation and growth forecasts for 2015 and the next two years.
It expects inflation in the eurozone to remain “very low” for some years as threats to economic growth increase.
ECB president Mario Draghi said Europe’s economic recovery would continue, “albeit at a somewhat weaker pace than expected”.
Frankfurt (AFP) – Violent clashes between anti-capitalist protesters and German police left dozens injured and a trail of destruction in Germany’s financial capital as the European Central Bank opened its new headquarters Wednesday.
In fierce street battles that began in the early hours in the well-heeled western city of Frankfurt, 14 police and 21 anti-capitalist protesters were wounded, police and rally organisers said.
The bully tactics employed by the ECB against the newly elected government in Greece demonstrates once again how the ECB and the entire European project puts the interests of banks and political elites over those of the average citizen.
Certainly, it is necessary to take a tough stance regarding fiscal responsibility and discipline. Very few people suggest otherwise.
However, the ECB maintains a different set of standards when it comes to supporting the banking system as demonstrated by its imminent initiation of quantitative easing (QE).
The European Central Bank (ECB) has toughened its stance with Greece by restricting financing to the country’s banks, sending shares falling.
In a statement, the central bank said it would no longer accept Greek government bonds as collateral for lending money to commercial banks.