FRANKFURT (Reuters) - The European Central Bank agreed on Thursday to embark on a quantitative easing (QE) programme, which together with its existing schemes will pump 60 billion euros a month into the euro zone economy from this March until September next year.
Countries under a bailout programme, such as Greece, will be included but with some additional criteria.
The ECB is launching the programme with a view to buoying the flagging euro zone economy, where inflation has turned negative and - at minus 0.2 percent - is far below the central bank’s target of just under 2 percent.
“Under this expanded programme the combined monthly purchases of public and private sector securities will amount to 60 billion euros,” ECB President Mario Draghi said at a news conference.
“They are intended to be carried out until end-September 2016 and will in any case be conducted until we see a sustained adjustment in the path of inflation.”
(This story corrects first paragraph to include existing schemes)
Writing by Paul Carrel Editing by Jeremy Gaunt