ECB won't take decision on QE program this week: traders
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E-mail(Reuters) - The European Central Bank won't modify its asset-buying program at its meeting this week, according to all but one of 20 euro money market traders polled by Reuters on Monday.
The ECB had hoped the quantitative easing program it started in March would drive up inflation in the euro area. But it has remained subdued, slipping to -0.1 percent in September.
This has led to speculation that the ECB would modify the program, either by extending it past its current projected end date of September 2016 or by increasing the amount of monthly purchases from the current 60 billion euros.
While only one trader polled said the Bank would make a decision at its policy meeting on Thursday, 15 expected it to do so at a later point, probably in the first half of next year.
"They'll still give it some time," said one trader, adding that the bank would expand its program. "Definitely not this week, but maybe in December or early next year."
The poll also showed banks would borrow 69 billion euros from the ECB at the weekly tender, little changed from the 69.52 billion euros maturing from last week.
(Reporting by Aaradhana Ramesh)
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