Draghi Deflation Fight Seen on Different QE Path to Fed

European Central Bank President Mario Draghi’s version of QE might turn out to be rather different from the type deployed by the Federal Reserve.

As ECB officials try to stamp out the risk of deflation, Draghi yesterday gave his strongest signal so far that the ECB is prepared to embrace a policy that has become a byword for large-scale government bond purchases. And yet, the structure of the euro region’s economy means the ECB will also need to find its own approach to quantitative easing.