The leadership of the European Central Bank has stated that two months of quantitative easing has started to do its job and the ECB is seeing the results in the low interest rates and an expanding economy in the Euro Zone countries. ECB Sees Easing Policy To Be Working
This is good new for the ECB as news in recent weeks has been bogged down with whether the ECB will retain Greece as a member nation and whether to proceed with a $262 Billion dollar bail out plan for the Greek economy. This is also good news because early manufacturing numbers for the EuroZone have been down but ECB officials believe that a turn around would be inevitable and would spark more economic growth and expansion in the ECB member countries.
Europe realizes that its economy is tied to the world global economy and its performance is a key sign of the overall economic health and vitality of the global economy. This report by the ECb is consistent with assessments from the World Bank which as forecast moderate global economic growth, especially in the Euro Zone. The International Monetary Fund (IMF) has taken a more conservative approach with its forecasts and believe that there needs to be sustains signs of economic growth before bells and whistles can be rang announcing a full rebound of the global economy.
The ECB expects to maintain its current easing policy for at least the next several quarters.