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According to Dow Jones Newswires, since the European Central Bank's inflation target is likely to remain unattainable for some considerable time, the bank will have to leave open the option to extend the duration of its asset purchase program, says Christian Reicherter, analyst at DZ Bank. It doesn't expect any adjustments to be made to key interest rates or to the purchase program at the upcoming meeting Thursday, but looks for changes in September. According to DZ Bank, one of the "comparatively uncontroversial" options which the ECB could take to further broaden the available universe of German government securities would be to raise the issue limit for bonds without a CAC-clause, Mr. Reicherter says.
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