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QE to last until inflation close to target – ECB’s Nowotny

FXStreet (Mumbai) - The European Central Bank (ECB) member Nowotny, while speaking in Zurich, dropped a hint at a possible open ended QE program by saying that the QE program will continue until inflation is closer to target.

The bank intends to run its program till September 2016, however, Draghi last week opened doors for extension/expansion of the QE program.

Key Quotes

Having equal interest rates across bloc is not an ECB goal

Currently not worried about perspective of high inflation

Inflation expectations remain low

QE will last at least until inflation close to target

Policy normalisation will be challenging

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