Sheyna Steiner, a writer for Bankrate.com, reported that the European Central Bank has announced quantitative easing (QE) to stimulate inflation in the Eurozone and weaken the currency further. The ECB will be purchasing 60 billion euros worth of securities each month until September 2016. Due to banks' unwillingness to lend money and few demands for loans, traditional monetary policy levers such as interest rates have little effect.