ECB bond buying programme back in hibernation - The Best from Greece

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Posted on: 05/Apr/2011

 The ECB has bought only small amounts of bonds in recent weeks despite the premiums investors demand to hold the debt of Greece, Ireland, Portugal compared to that of Germany being back close to record highs.

However, the total value of bonds held under the programme rose to 77.0 billion euros from 76.5 billion euros, when rounded to the closest half billion. The rise was due to realignment of book values, the central bank said.

The ECB also said no bonds it holds under the programme matured last week.

The ECB's bond purchase programme, which started in May, is part of efforts to stave off Europe's debt crisis and get markets back into order.

The pause in purchases marks a return to hibernation after the central bank spent 432 million euros in the previous week.

The ECB can buy government and corporate bonds from banks and other investors under the controversial facility. It adds the caveat that the figures may not include its latest purchases and has given no further details, such as how much it could spend under the programme or how long it intends to buy for.


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