European Central Financial institution (ECB) President Mario Draghi announced on 22 January an unprecedented bond-buying scheme to pump cash into the eurozone and stop deflation. Draghi stated the ECB “determined to launch an expanded asset buy programme” beneath which “the mixed month-to-month purchases of private and non-private sector securities will quantity to €60bn.” — over €1,000 billion in all. The quantitative easing programme entails central banks shopping for up authorities bonds to inject extra money into the system and is “supposed to be carried out till end-September 2016”.

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