ECB minutes: views on QE split
On Thursday for the first time ever the European Central Bank released its monetary policy meeting minutes. On Jan. 22 the European regulator announced a full scale QE program. Here are the key points cpolicy makers discussed during the meeting:
- All members agreed QE is a policy tool (beating any legal arguments from Germany)
- Large number of council members supported buying government debt, they also discussed buying corporate debt
- Some members opposed QE in January, calling it "a last resort"
- Purchases will be finished when inflation goal achieved
- Members see price stability outlook worsened
- Without action, recent positive market developments could reverse