European Central Bank unveils €1trn QE programme

The central bank will begin a bond-buying programme in March, purchasing €60bn of assets each month until the end of September 2016. "Today's measures will decisively underpin the firm anchoring of medium to long term inflation expectations," Draghi said. The euro initially dropped 1% against the dollar in response, to a fresh 11-year low of $1.1513, before bouncing slightly as traders tried to interpret the implications of Draghi's announcement. European and UK stock markets rallied on the news. The FTSE 100 gained 0.7% as Draghi was speaking, while the Euro Stoxx 50 gained around...