Draghi: ECB To Extend Asset Purchase Program Through March 2017

The European Central Bank will extend its asset purchase program through March 2017 in an effort to boost inflation back toward its target of near but just below 2%, ECB President Mario Draghi announced Thursday. The ECB had previously planned to end the program in September 2016. Draghi said the program could be extended further beyond March if needed. The ECB will also include purchases of regional government bonds in the program, Draghi said. Earlier, the ECB further lowered the deposit rate it pays on money parked at the central bank to minus 0.3% from minus 0.2%.