Exporters to benefit most from €1.1bn QE plan

Irish exporters are set to be the main beneficiaries from the ECB’s planned €1.1bn in quantitative easing.

The euro went into freefall following ECB president Mario Draghi’s announcement yesterday that the bank would buy up to €60bn of public and private debt per month until September 2016.

“This move should in the coming months result in lower borrowing costs for euro area countries, including Ireland, but undoubtedly the most powerful effect will be seen in the euro single currency, which is expected to depreciate substantially,” said Garret Grogan, head of interest rate trading, Bank of Ireland Global Markets.