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Coene Calls ECB Outright Bond Purchases "Very Unlikely"

September 17, 2012 2:31 PM EDT
ECB Governing council member Luc Coene, head of the Belgian central bank, said today that it was "very unlikely" that the ECB would ever engage in outright quantitative easing.

Recently the ECB's vowed to buy unlimited amounts of Italian and Spanish bonds in order to reduce borrowing costs in the crisis stricken countries. Previously the ECB said they would sterilize purchases.

Coene also said the ECB would make its own decisions on whether a country was sticking to its promises regarding fiscal disciple.

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