ECB: QE to run until a sustained adjustment in the path of inflation

According to the press release of the ECB monetary policy decision, the Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.

The Governing Council confirms that the net asset purchases, at the current monthly pace of €30 billion, are intended to run until the end of September 2018, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim.

The Eurosystem will reinvest the principal payments from maturing securities purchased under the asset purchase programme for an extended period of time after the end of its net asset purchases, and in any case for as long as necessary.

Focus now shifts to the post-meeting ECB press-conference, where the ECB President Mario Draghi's comments on the considerations underlying these decisions would drive sentiment surrounding the shared currency.