ECB bond purchases down by half

14th November 2011, Comments 0 comments

The European Central Bank said Monday that its purchases of eurozone bonds were down by more than half to 4.48 billion euros ($6.1 billion) in the past week.

In the previous week to November 4, it had bought 9.52 billion euros worth of eurozone government bonds.

The ECB, as usual, did not specify which government bonds it had bought.

But the ECB has now bought a total 187 billion euros in eurozone government bonds since it first began such operations early last year as part of efforts to ease debt strains in the 17-nation bloc.

It resumed major purchases in August when renewed strains pushed Italian and Spanish borrowing rates to unsustainable levels.

© 2011 AFP

0 Comments To This Article