Hollande backtracks on statement that ECB QE will begin Thursday

Telegraph - Jan 19, 2015

The French President has caused a headache for the eurozone’s policymakers.

He declared on Monday that the European Central Bank (ECB) will announce a quantitative easing programme this week, in a move that will support the French economy.

Francois Hollande made the comments to business leaders at the Élysée Palace, according to the Wall Street Journal.

The newspaper reports that Mr Hollande said: “On Thursday, the ECB will take the decision to buy sovereign debt, which will provide significant liquidity to the European economy and create a movement that is favourable to growth.”

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