Paceful Sunday People;

the governing council of the ECB has decided to cut the interest rate on the deposit facility by 10 basis points to -0.30%, president Mario Draghi (pictured) said during the press conference.The measure will take effect from 9 December 2015.The interest rate on the main refinancing operations and the interest rate on the marginal lending facility will instead remain unchanged at 0.05% and 0.30% respectively.As a further measure to boost inflation and encourage household and firms to spend, the ECB has also extended its QE programme.Previously due to run until September 2016, Draghi said the governing council has now decided that the programme will run until March 2017, or beyond if necessary.However, Draghi did not mention any increase in the monthly asset purchase of €60bn nor has he hinted at the possibility of buying riskier assets than government bonds.Some economists and managers sounded disappointed at the news ' n in my view, extending the QE programme is absolutely the right tool to aid recovery in the Eurozone, evidenced by the progress already made since the programme began earlier in the year. As a result, European bond yields should remain well-anchored, and we are likely to see European bonds outperform US bonds as monetary policies continue to diverge.
Regards All.
@FxCox
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