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ECB upped bond purchases last week to $1.4 billion

ECB upped bond purchases last week to $1.4 billion

The European Central Bank increased its purchases of government bonds last week to (EURO)1.1 billion ($1.4 billion) as part of its efforts to fight the eurozone debt crisis.
The purchases reported Monday were up from (EURO)462 million the week before.
The ECB's purchases in the secondary market are designed to hold down the borrowing costs that Spain and Italy face in bond markets. However, Italian yields remain elevated at 7.1 percent.
The ECB says however that the program is limited and that it is up to governments to win lower interest rates by cutting deficits and improving growth.


Updated : 2021-06-17 07:23 GMT+08:00