Divisive talks at ECB meeting

The ECB’s chief economist warned eurozone central bankers of the perils of delaying quantitative easing, according to records of a January meeting that shed light on how policymakers ‘broadly’ agreed to launch the scheme.

Speaking to the January 22 gathering of the ECB’s Governing Council, Peter Praet addressed the risks of waiting before launching a programme of quantitative easing — effectively printing money to buy government bonds.

The minutes give a bare-bones account of the discussion, but they do provide a glimpse of the pressure and tension involved in ECB decision making.