The European Central Bank is planning to announce a 50 billion euros ($58.3 billion) a month quantitative easing (QE) program, sources with knowledge of the situation confirmed to CNBC on Wednesday.
The Wall Street Journal first reported that the ECB’s executive board was proposing 50 billion euros of bond purchases per month. There was also a report that this program would last until the end of 216, although this was unconfirmed.
The central bank formally declined to comment. European and U.S. markets rallied on the report. A QE program would see the European Central Bank purchase euro zone government bonds in the hope of boosting the region’s painfully low inflation, which came in at an annual -0.2 percent in December.
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