FXStreet (Mumbai) - The rating agency Fitch was on the wires today stating that the European Central Bank’s (ECB) Targeted Long Term Refinancing Operation (TLTRO) is failing to provide the intended stimulus. A total of EUR 400bln of TLTROs have been issued since their launch in Sept 2014. Fitch added that the program is helping to reverse the loan contraction that began in 2012. Earlier today, the ECB member Rimsevics was on the wires as well, playing down the positive effects of the QE programs initiated by the central banks across the globe. For more information, read our latest forex news.