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Bank of Italy says "essential" ECB maintains QE to support euro zone
October 5, 2016 / 9:47 AM / a year ago

Bank of Italy says "essential" ECB maintains QE to support euro zone

ROME, Oct 5 (Reuters) - It is essential that the European Central Bank keeps in place its Quantitative Easing (QE) asset buying programme to support the euro zone economy, the Bank of Italy said on Wednesday.

The ECB has said it will keep the programme in place at until March next year, and for longer if necessary.

“The most recent forecasts for the euro zone incorporate a considerable monetary support which, as the ECB Council has reiterated, it is essential to maintain,” Bank of Italy executive board member Fabio Panetta told a conference, in reference to QE.

The ECB press office said on Tuesday the bank’s governing council had not discussed reducing the pace of its monthly bond buying, responding to a Bloomberg article. (Reporting by Giuseppe Fonte, writing by Gavin Jones)

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