The European Central Bank agreed today to embark on a quantitative easing programme that will see it print money to buy up €60 billion worth of sovereign bonds from March until the end of September next year.
The money will include some from existing programmes. Countries under a bailout programme, such as Greece, will be included but with some additional criteria.
The ECB is launching the programme with a view to buoying the flagging euro zone economy, where inflation has turned negative and - at minus 0.2 per cent - is far below the Central Bank's target of just under two per cent.
"Under this expanded programme the combined monthly purchases of public and private sector securities will amount to €60 billion," ECB President Mario Draghi said at a news conference.
"They are intended to be carried out until end-September 2016 and will in any case be conducted until we see a sustained adjustment in the path of inflation."