QE proceeding smoothly - ECB’s Draghi

FXStreet (Mumbai) - In a letter to the European lawmaker, the European Central Bank (ECB) President Mario Draghi wrote that “the implementation of the expanded asset purchase program is proceeding smoothly.”

He further added, “concerns about the scarcity of bonds are therefore not warranted at this juncture.” Draghi also stated that there is no need for change in the composition of the ongoing QE program at the current juncture and that the program is sufficiently flexible in case circumstances change.

The President also addressed fears of bond shortage by stating once again that, “concerns about bond scarcity are not warranted now.”