ECB bond purchases more than double in a week

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The European Central Bank said Monday that its purchases of eurozone bonds more than doubled to 9.52 billion euros ($13.1 billion) in the past week.

In the previous week to October 28, it had bought 4.0 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 183 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

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