QE for Christmas? Draghi lays foundations for full ECB easing

The European Central Bank (ECB) is increasingly likely to announce full quantitative easing before the end of the year, interpretations of president Mario Draghi's latest comments suggest.

The ECB began buying high quality asset-backed securities (ABS) last month, but this may be just the tip of the iceberg, as economists say full-blown QE may be around the corner.  That follows dovish comments from Draghi made in his monthly press conference yesterday. The ECB president said the bank's governing council is unanimously ready to announce more unconventional measures if necessary. Draghi added ECB staff had been asked to prepare further measures, a comment which boosted risk assets on Thursday afternoon. Jennifer McKeown, senior European economist at Capital Economics,...