It has been nearly two years since the European Central Bank launched its quantitative easing program to boost inflation and prop up the Eurozone economy.

In March 2015, the European Central Bank launched a massive programme to buy sovereign and private debts from Eurozone banks.

The aim of Quantitative Easing is to inject liquidity into the monetary system, increase inflation and to exit the deflationary spectrum. All of this creates a ripple effect that can help boost growth. But 20 months after launching the monetary easing programme, does it still hold merit?  

“It helps governments but in the same time we do not see inflation which means we need more quantitative easing than us to have. I am pretty sure the ECB will continue to print money,” said Bruno Colmant, economist of Bank Degroof Petercam.

The European Central Bank uses all conventional monetary tools available to keep inflation down. Today the rate of inflation for the Eurozone sits at 0 percent . What this means is that the cost of borrowing money is zero. But despite their efforts, Eurozone economies are still struggling.