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Euro drops on hopes of more QE after ECB admits missing inflation target

Section: Daily Dispatches

By Mehreen Khan
The Telegraph, London
Thursday, October 15, 2015

The European Central Bank is missing its inflation target and will have to ramp up stimulus measures, according to the chief of Austria's central bank.

Ewald Nowotny, who sits on the board of the ECB, said it was "quite obvious" that monetary policymakers would now embark on further measures to lift inflation less than a year after the start of its unprecedented quantitative easing (QE) programme.

The comments, from the usually hawkish Mr. Nowotny, mark the first time one of Europe's senior central bankers has all but confirmed more QE is coming. The remarks saw the single currency fall by as much as 0.6 percent against the dollar to $1.142 in early morning trading.

The "ECB is using the monetary policy instruments available -- but it is quite obvious that in the current macroeconomic situations, additional sets of instruments are necessary," Mr. Nowotny said at a conference in Warsaw. ...

... For the remainder of the report:

http://www.telegraph.co.uk/finance/economics/11932819/Euro-drops-on-hope...



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