Loading ...ECB could buy gold to revive economy
Gold, shares, and exchange-traded funds (ETFs) – the European Central Bank (ECB) may turn to buying any or all of these in an attempt to boost inflation in the currency bloc.
Yves Mersch, a member of the ECB’s executive board, said that the purchase of these assets was “theoretically” an option for the central bank, which earlier this year resolved to “take further unconventional measures to counteract a lengthy period of lower inflation”.
His speech, delivered in German, came as official statistics published on Friday showed inflation of just 0.4pc in the year to October.
Very low levels of inflation were characterised by Mr Mersch as “abnormally low”, as price growth remained well below the ECB’s target of close to 2pc.
The official said that while there was scope to buy such assets, the ECB is about to embark on a programme of asset-backed securities purchases.
more http://www.telegraph.co.uk/finance/economics/11235269/ECB-could-buy-gold-to-revive-economy.html