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ECB sees “substantial degree” of stimulus still in the pipeline

FXStreet (Mumbai) - The European Central Bank (ECB) accounts released today showed the policy makers see scope for a “substantial degree” of stimulus ahead.

Key Points

ECB to front load QE to prepare for lower liquidity in December. It is premature to judge the impact of economic risks.

QE to be fully implemented till September 2016 or beyond if required.

QE issue limit raised to preempt any bound bottlenecks; ECB governing council wanted more time to understand volatility.

Policymakers had a "broad agreement" that downside inflation risks rose; deflation risks receding for the greater part of Euro area. Members stressed importance of underlying inflation gauges.

Recovery to be slower than expected due to the slowdown in the emerging economies.

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