According to the chief market strategist of Goldman Sachs Peter Oppenheimer measures the ECB will provide long-term support for the stock price. "Deflationary risks make Europe seem unattractive for many investors. Reducing such risk can have greater returns at current prices and we believe that will not require much effort to reverse monetary circle positive, at least for some time," said quoted him as saying Wall Street Journal.
Markets are especially enthusiastic because of the open nature of the program. Although it is envisaged purchases continue until September 2016, ECB President Mario Draghi said that this policy will be maintained until it is established sustainable change in inflation in line with targets set by the banks. The ECB aims to keep inflation just below 2% annually, but in December the euro zone fell into deflation for the first time since 2009
With one mind
Outside the financial markets are also positive reactions, but optimism is moderate. EU Economic Affairs Pierre Moscovici told Germany's Handelsblatt, he believes the ECB's decision in the interest of the euro area as a whole, as should be prevented from falling into deflation. He added, however, that although it is "absolutely necessary" to continue structural reforms in the countries of the region. The head of the Bank of England, Mark Carney, in turn, noted that the program of quantitative easing of the ECB lays the foundation for the improvement of the European economy. "It is absolutely necessary for the preservation of the prospects for medium-term economic prosperity. The program will ensure that prosperity and will only create the conditions for it," he said, quoted by Reuters. Carney's comments followed an earlier statement by British Finance Minister George Osborne, who also welcomed the decision of the ECB, but warned that this will not be enough. "I think it is a welcome action by the ECB, but the actions of the central bank are necessary but not sufficient for the reconstruction of Europe," said the minister told Bloomberg.