The ECB agrees to be firm bond purchases: Minutes – Televisa News

FRANKFURT, Germany, April. 2 2015.- authorities European Central Bank (ECB) agreed on March 5 that the asset purchase plan block was justified and should stand firm and implement the program “without hesitation” according to the minutes of the last meeting of the company released Thursday.

At its meeting on March 5, the ECB said it would start printing money to buy bonds-the so-called quantitative-relief from next Monday (9 March). The bank also provided updated projections team of economists who offered a more optimistic outlook on the economy.

“The projections of March 2015 (…) should not be interpreted as a suggestion that latest monetary policy measures are less necessary, “according to the document on the meeting.

” Therefore, it is essential that the governing council remains firm, implementing measures taken without hesitation until the objectives are achieved, in line with the commitment to maintain this policy as needed, “added the minutes.

The comments are significant because after three weeks of the start of the program of asset purchases of 19 months, analysts have begun to speculate that the ECB could advance slow the rate of injection of money, possibly this year.

The ECB kept its key interest rate at a record low of just above zero the meeting in Cyprus last month. It also raised its growth forecast for the economy of the euro zone to 1.5 percent this year from forecasting GDP growth of 1 percent offered in December.

The economic team of the ECB expected inflation in the euro area will accelerate from zero level this year to 1.8 percent in 2017, which would leave it in line with the ECB’s target of just below 2 percent.

Under his plan of quantitative easing, the ECB plans to buy 60,000 million dollars a month in mostly sovereign bonds until September 2016, or extend the deadline if necessary, to achieve sustained inflation adjustment to approach the goal the central bank.

The minutes of the meeting offered a rare look at the discussions of the ECB’s monetary authorities, and provide pressure signals generated by the decisions of the entity that seeks to forge consensus among the 19 nations of the euro zone, from Germany to Greece.

tfo