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ECB's Draghi: Governing Council decided to buy simple ABS

FXStreet (Łódź) - The ECB Governing Council unexpectedly decided to cut rates to new record lows at the September meeting, and during the subsequent press conference Mario Draghi announces also the start of ABS purchases.

• ABS purchases will facilitate credit flows to the economy, the ECB head explains.

• Details will be announced on October 2.

• The new measures will have a sizable impact on the ECB balance sheet.

• The measures will support forward guidance on key interest rates.

• "If necessary, the Governing Council is unanimous in its commitment to using additional unconventional instruments within its mandate."

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