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The European central bank has cut down its interest rates from .25% to 0.15% in June and with this, it has become the first one to introduce negative interest rates. This bank has a plan to introduce the asset purchase program, which will buy debt products from banks. This move will be helpful in adding the liquidity to the financial system and this will help to revive the lending.

The move falls of buying the government bonds, this is a process, which has been taken by the US federation reserve, and this process is qualitative easing. ECB boss Mario Draghi said that QE was discussed by the bank to be implemented. Some of our governing council members were in favor of doing more than I have presented and some were in favor of doing the less. However, our demands strikes the mid-way road, here some governors made clear that they would like to do more.

Here we will like to add the BBC Economics Correspondent Andrew Walker, who says that ECB is getting back into the business of buying the financial assets. Here, no government debt this time, however it is obvious that could come yet. All of these steps are turning into the American business.