ECB back for bonds
THE European Central Bank (ECB) refrained from buying government bonds in the eurozone for three weeks in a row, according to new data.
The ECB stepped back from the purchases as there was relative market calm in recent weeks. However, that dry run ended when the bank stepped back into the market last Thursday.
The ECB has spent €76.5bn buying government bonds since May last year, targeting the purchases to stabilise prices when private sector investments looked likely to drive up borrowing costs for governments.
The three weeks without a purchase is only the second time since May that the bank has stayed out of the market for so long.