ECB's Draghi: ABS purchases to start soon

FXStreet (Łódź) - Following ECB's announcement of the decision to keep rates unchanged at the November meeting Mario Draghi says at the press conference that the central bank will initiate ABS purchases soon and that they shpould last for at least two years.

• Asset purchases and TLTROS will have a sizeable impact on balance sheets.

• The balance sheet is expected to move towards early 2012 levels.

• Monetary policy has responded to weaker inflation, weakening growth, subdued monetary, credit dynamics.

• Measures will impact policy transmissions and credit. Loans and purchases support forward guidance.

• Governing Council has tasked staff and committees with timely preparation of further measures to be implemented, if needed.