ECB Policymaker Says There is no Plan B if QE Fails

A senior ECB (European Central Bank) policymaker has backed the central bank’s plan to kick-start inflation in the euro zone.

In an interview with Belgium’s Knack magazine published Wednesday, ECB Executive Board Member Peter Praet, said there was no “plan B” should the bank’s QE (quantitative easing) and low interest rate policy fail to produce results.

“If the ECB had not taken the measures that it did, we would be in a depression; I’m convinced of that. And a depression would be much worse than what we are experiencing today and worse than what we went through over the past decade,” he said.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza