Economy

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27. Draghi Dodges QE Disappointment With Plan That Might Work

Sat Jan 24, 2015, 08:47 AM

Jan 2015

http://www.bloomberg.com/news/2015-01-22/draghi-dodges-qe-disappointment-with-plan-that-might-just-work.html

Mario Draghi has delivered a classic European compromise. It even has a chance of working.

With a headline value of 1.14 trillion euros ($1.28 trillion), the bond-buying plan unveiled by the ECB president on Thursday was welcomed by investors, even with its concessions to critics and a flurry of fine print. Draghi pledged to spend until there’s a “sustained adjustment” in inflation and Italy’s Ignazio Visco said the program is open-ended.

The euro fell to an 11-year low and bonds rose after the long-awaited arrival of a mode of stimulus that central banks in the rest of the developed world adopted years ago. Draghi said the plan will help return inflation to the ECB’s goal, while still giving a nod to the German-led concerns that defined much of the region’s response to the financial crisis.

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