ECB to start asset buying programme

The European Central bank's head Mario Draghi said it would start buying covered bonds this month and other assets in the final three months of the year. They would then buy bonds and other assets for the next two years. Covered bonds are those backed by public sector loans or mortgages.
This is an unconventional instrument to stimulate an economy that has failed to reach it's inflation rate. Instead of setting interests rates, the ECB has chosen to boost the economy through "quantitative easing" or QE. QE is a situation in which the Central Bank buys assets with new money from banks. After buying the bonds, the banks are then, in theory, to buy new assets thus increasing the value of stock prices and decreasing interest rates.
The problem that the ECB faces is the consumer price inflation which fell to 0.3% in September. This is the lowest in five years and below the 2% that is goal. Major economies of Europe have been slowing down recently and this tool is supposed to push the economies of Europe in positive direction. This being said Mr. Draghi stated "The recovery is likely to continue to be dampened by high unemployment, sizable unutilised capacity and continued negative bank loan growth to the private sector. In particular, the recent weakening in the euro area's growth momentum, alongside heightened geopolitical risk, could dampen confidence and, in particular, private investment."

I agree that ECB should be exploring other options to raise the inflation of the eurozone. QE is just one option but others should be explored. The future economic outlook of the eurozone isn't appearing the strongest. 

http://www.bbc.com/news/business-29459157