ECB chief says bond purchase programme not ended

4th August 2011, Comments 0 comments

European Central Bank president Jean-Claude Trichet said Thursday that the programme set up to purchase eurozone government bonds was not ended.

"I never said that the SMP had been interrupted," Trichet said in reply to a question on the ECB's Securities Markets Programme that bought around 74 billion euros in public debt so as to support the financial system with liquidity.

Trichet then said: "I wouldn't be surprised if by end of this press conference something happens," and when asked to confirm the ECB had in fact begun to buy government bonds, said: "I thought I confirmed in advance."

A source in a major bank told AFP the ECB has in fact begun buying eurozne government debt.

© 2011 AFP

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