Alessia Pe MILAN (Reuters) – Announced in late January and concretely operational for just over a month, the ECB expanded program of purchases of government bonds in the euro zone is actually giving oxygen all’asfittico credit channel and will resume inflation. The claims President Mario Draghi in front of reporters, during a meeting with the press briefly interrupted and ‘enlivened’ by a protester. The impact will be even more positive with the full development of the program – monthly purchases for a total of at least 60 billion up to September next year – and therefore did not make sense to take into account the possibility of suspending in advance treatment effects only benefits. “The realization of the program of purchases proceeds smoothly, with volumes in line with the objectives. We also see evidence of the effects of monetary policy measures,” says the president, speaking of undeniable improvement in the financial market and reduction in costs collection for the private sector. Frankfurt still carefully observes the market trends, is well aware of the possible risks associated with low rates for an extended period, but believes that so far there is no sign of any distorting effect or bubble. Data macro and short-term statistics, at least those from February, tend to support the comments of Dragons. According to the flash estimate on the last month – the day after the final reading Eurostat – Consumer prices in March show a cooling at an annual rate of 0.1%, in absolute level still light years away from the objective of the ECB “less but close to 2% “, result less daunting when compared with -0.3% in February and -0.6% in January. Published yesterday, the ECB’s quarterly survey on credit shows that the vast majority of European institutes acknowledge that you have seen in the first three months of a recovery in demand for loans linked to the program of purchases ECB, whose effect has further deflated rates. More …
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