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Sunday 11 December 2016

ECB completes €60bn of bond buys in April

Jana Randow

Published 05/05/2015 | 02:30

European Central Bank (ECB) headquarters in Frankfurt. Reuters
European Central Bank (ECB) headquarters in Frankfurt. Reuters

The European Central Bank said it reached its target of €60bn of bond purchases in the second month of its quantitative-easing program, as investors pushed back against negative yields.

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The ECB settled €47.7bn of public-sector purchases in April, and filled the rest of the monthly quota with covered bonds and asset-backed securities.

That takes the total sovereign and supranational debt bought so far to €95.1bn. The weighted average maturity of holdings fell to 8.25 years from 8.56 years at the end of March.

Investors wiped €55bn off the region's government bonds on April 29 as they shunned European debt amid signs of the return of inflation, and dealt Germany's 10-year bonds their steepest two-day loss in more than three years. Euro-area consumer prices ended a four-month run of declines in April, underpinning claims that QE is already starting to work.

Irish Independent

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