The European Central Bank (ECB) may complete the sales of this program on the market, confirmed Mario Draghi, Central Bank of the euro area countries, who spoke on the European Parliament's committee.
He recalled that the region's inflation rose to 2.2% in October from 2.1% in September. Mr Draghi noted that the evolution of events strengthened the previous estimates of the medium-term inflation projections in the Governing Council of the ECB. The dynamics of domestic demand and wages continue to support the regulatory authority's confidence that continued convergence of euro area inflation with the ECB's target value will continue.
"Therefore, the Board continues to assume that future data confirming medium-term inflation prospects will result in net asset purchases in December 2018," Draghi notes.
Several years ago, the ECB introduced a number of non-standard monetary policy measures, including a fund-raising program. Its main objectives were to reduce low inflation in the euro area and to bring it closer to the target indicator – just under 2% in the medium term. The ECB's forecast published in September, annual inflation in the euro area in 2018-2020 is 1.7 per cent.
The Governing Boards of the ECB must evaluate their monetary policy measures. Following several recent Council meetings, it was announced that the fundraising program may take place in December this year.