Until now, we have done it in a targeted way for securities (covered bonds and ABS), which contribute directly to financing the economy. Will these purchases be capped and will they involve all the countries? That’s a discussion that the Governing Council will have on 22 January.
We will take into account the American and British experiences in order to decide on the amount of securities to buy in order to restore confidence in inflation returning to a level close to, but below, 2%, while bearing in mind the economic and institutional specificities of the euro area.