‘Most ECB chiefs don’t want more QE’ according to Yves Mersch

A majority of ECB governors last week did not want to boost quantitative easing further, Yves Mersch said, adding its move to buy new bonds as old ones mature would inject hundreds of billions of euros.

“The very large majority of the governing council is of the view that the measures are appropriate and that more is not needed to reach our goal,” Mersch told a journalists’ club dinner on Wednesday, referring to the ECB’s interest rate decision last Thursday.

Mersch’s comments also gave fresh detail about how the ECB will extend money printing, one week after markets dipped on disappointment that ECB president Mario Draghi had opted to extend rather than ramp up its quantitative easing programme.