Will start bond buying in the first two weeks of March – ECB’s Coeure
2 February 2015, 11:42
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The European Central Bank (ECB) member Benoit Coeure said today that the bank would begin its bond purchases in the first two weeks of March.
He also said that bond purchases will be based on existing market opportunities, while stressing that the bank would create as little market distortion as possible while doing so. The policymaker also let out the possible indicator for the end of QE, when he said that a sustained convergence of inflation to goal is needed to exit QE.
On Greece issue, he said now is not the time for bank to intervene in Greek debate. Similar sentiment was also echoed by Edwald Nowotny, member at the ECB, who said the issue of relaxation of deficit target for Greece is not a matter of monetary policy.
Mr Nowotny also said the asset-purchase program will be published before march, while stating that the disinflationary impact from oil prices is unlikely to last for a year.
He also said that bond purchases will be based on existing market opportunities, while stressing that the bank would create as little market distortion as possible while doing so. The policymaker also let out the possible indicator for the end of QE, when he said that a sustained convergence of inflation to goal is needed to exit QE.
On Greece issue, he said now is not the time for bank to intervene in Greek debate. Similar sentiment was also echoed by Edwald Nowotny, member at the ECB, who said the issue of relaxation of deficit target for Greece is not a matter of monetary policy.
Mr Nowotny also said the asset-purchase program will be published before march, while stating that the disinflationary impact from oil prices is unlikely to last for a year.
