The minutes of the ECB's monetary policy meeting on 14th and 15th April (released on Thursday) underscored the message already given by Mario Draghi and colleagues, in the press conference after the meeting and in subsequent speeches, that the Governing Council firmly intends to implement its QE programme in full.
Council members agreed that the implementation of QE only a little over a month before the meeting had already had a "significant impact" on euro-zone financial markets. However, they concluded that it was "important to remain cautious" about the economic recovery, which "still faced headwinds" related to balance sheet adjustments and insufficient structural reforms.
In short, QE looks set to continue at least until next September, and quite possibly beyond. notes Capital Economics
