ECB's Draghi: ECB's move prompted by worsening inflation outlook in August

FXStreet (Łódź) - When asked about the definition of QE Draghi explains that it's not related to size but rather to the modalities.

• The program is designed just to boost bank lending.

• Draghi also assures a "comfortable" majority of the Governing Council members were in favor of implementing the ABS program.

• "Rules have been followed when hiring investment management company BlackRock as a consultant for ABS program.

• Draghi points to the deterioration of inflation expectations in August as the reason for cutting rates and introducing new measures at today's meeting.

• Eurozone recovery is losing momentum.

• Measures introduced today were aimed at moving the balance sheet up to 2012 levels.