ECB getting closer to Fed-style stimulus

The European Central Bank (ECB) has deployed a raft of aggressive measures to boost Europe's economy, but stopped short of the one many economists insist would do the most to help: large-scale purchases of bonds. That could change sooner rather than later, analysts say, if inflation remains low. Purchases of bonds using newly created money - called quantitative easing - have been used with some success so far by the US Federal Reserve, the Bank of England and the Bank of Japan. They can reduce market interest rates, making it cheaper for consumers and businesses to borrow, helping growth, according to a news agency.