LONDON:

The Pak Banker - - FRONT PAGE -

Euro­pean Cen­tral Bank pol­icy mak­ers Benoit Coeure and Ig­nazio Visco un­der­lined that their new bond-buy­ing pro­gram will be ex­tended if it doesn't show re­sults. "If we haven't achieved what we want to achieve," said Coeure, the ECB's head of mar­ket op­er­a­tions, "then we'll have to do more, or we have to do it for longer." Visco, the Ital­ian cen­tral-bank gov­er­nor, said ear­lier on Fri­day that "we are open-ended" about as­set pur­chases. Both men spoke in Bloomberg Tele­vi­sion in­ter­views in Davos, Switzer­land, where they were among a small co­terie of Gov­ern­ing Coun­cil mem­bers who trav­eled to the Swiss re­sort after com­plet­ing an his­toric mon­e­tary-pol­icy decision in Frankfurt. ECB Pres­i­dent Mario Draghi pledged to buy 60 bil­lion euros ($68 bil­lion) a month of as­sets in­clud­ing gov­ern­ment bonds through Septem­ber 2016.

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