The European Central Bank’s Governing Council expects to consider a package of broad-based asset purchases including sovereign debt next month, two euro-area central-bank officials familiar with the deliberations said.
While the proposal is envisaged to include various types of bonds, it won’t encompass equities, said the officials, who asked not to be identified because the discussions are private. They said no decision on implementing quantitative easing has been taken yet, and the composition of the program may be influenced by incoming data. An ECB spokesman declined to comment.
ECB President Mario Draghi said today that policy makers “won’t tolerate” a prolonged period of low inflation, and that officials discussed “all assets but gold” as potential targets for purchases. The council asked internal committees last month to design new unconventional stimulus measures to help fuel growth and inflation.
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