Tags: European Central Bank | ECB | bond buying | eurozone

ECB to Launch 1 Trillion Euro Bond Buying Scheme on March 9

Thursday, 05 Mar 2015 06:47 AM

The European Central Bank said it will start its new government bond-buying program on March 9, hoping that pumping new cash into the sagging eurozone economy will boost growth and lift inflation.

The ECB will purchase sovereign debt until at least September 2016.

"We will on 9 March 2015 start purchasing euro-dominated public sector securities in the secondary market. We will also continue to purchase asset-backed securities and covered bonds which we started last year," ECB President Mario Draghi told a news conference after the bank's policy meeting in Cyprus.

The buying will start as the eurozone shows signs of accelerating growth with major consumption and leading indicators beating forecasts since the ECB unveiled the asset purchase plan on Jan. 22.

Draghi said that the ECB's moves would support the emerging data.

The ECB plans to spend 60 billion euros ($66.74 billion) a month on buying sovereign bonds, and some private sector assets.

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Markets
The European Central Bank said it will start its new government bond-buying program on March 9, hoping that pumping new cash into the sagging eurozone economy will boost growth and lift inflation.
European Central Bank, ECB, bond buying, eurozone
153
2015-47-05
Thursday, 05 Mar 2015 06:47 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved