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ECB Monetary Policy Meeting Account: the central bank will raise the pace of its asset purchases from September to November 2015
The European Central Bank's (ECB) its minutes of September meeting on Thursday. According to the minutes, uncertainty in emerging economies could lead to a slowdown in the Eurozone's economy.
"Uncertainty arising from developments in economic and financial conditions in emerging market economies, particularly China, had clearly increased," the minutes said.
"The slowdown in demand in China could contribute to greater global uncertainty and a possible loss of confidence, which could have a more substantial impact on global growth," the central bank said in its minutes.
The central bank pointed out that it will raise the pace of its asset purchases from September to November 2015 "to prepare for the expected decline in market liquidity in December".
"There was also wide agreement for stressing that the monthly asset purchases of €60 billion would be fully implemented until the end of September 2016, and beyond, if necessary, and, in any case, until a sustained adjustment in the path of inflation, consistent with the Governing Council's aim of achieving inflation rates below, but close to, 2% over the medium term, was visible," the ECB concluded.
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