IMF welcomes ECB bond-buying, calls for more actions

WASHINGTON: The International Monetary Fund on Thursday said it welcomed the European Central Bank's decision to buy government bonds, which will pump tens of billions of euros into a sagging euro zone economy.

IMF Managing Director Christine Lagarde said the monthly purchases of 60 billion euros should "strongly reinforce" the ECB's accommodative policies, helping to lower borrowing costs across the euro zone, raise inflation expectations and support the central bank's mandate for price stability.

"It remains essential that the accommodative monetary stance is supported by comprehensive and timely policy actions in other areas, not least structural reforms to boost potential growth and ensure broad political support for demand management policies," Lagarde added.