The central bank will still keep its target inter-bank interest rate at rock bottom levels but will reduce its asset purchases somewhat.
Because it is so willing to buy the bonds of eurozone countries, the governments in those countries have been able to borrow at historically low rates. A top money manager in Spain tells us nobody but the European Central Bank is willing to finance those governments at such low rates.
Governments then spend the new money into the economy, further stoking inflation.
NTD spoke to Harry Veryser, an adjunct professor of economics at the University of Detroit Mercy, about the European Central Bank.
