Eurozone economy: Draghi explains ECB QE decision

The European Central Bank (ECB) has announced it will inject billions of euros into the ailing eurozone economy.

The ECB will purchase bonds worth €60bn per month until the end of September 2016 and possibly longer, in what is known as quantitative easing (QE).

The ECB also said eurozone interest rates were being held at the record low of 0.05%, where they have been since September 2014.

ECB President Mario Draghi explained the reasons behind the decision to implement QE.