Reuters poll shows only 11 of 21 traders believe ECB will consistently buy €60 billion euros of bonds per month
The ECB has pledged to buy €60 billion worth of bonds in the market each month but traders are doubtful.
"It (the 60 billion euros target) might be reached within the next weeks of the programme but after that, once all the bonds have been bought by the ECB, the continuous purchase is going to be difficult," said a trader at a larger dealer cited by Reuters.
The QE program started today but the ECB, is rumored to have bought just €25-50 million when a pace of around €2.7 billion will be required.
On the trading side, a failure to meet the target would undermine the ECB's credibility while making the target might not be priced in and may imply lower yields and more money printing. Either scenario would be negative for the euro.