14086
ECB Beats QE Target in First Month
World Economy

ECB Beats QE Target in First Month

The European Central Bank bought almost €61 billion ($66b) of government bonds and other assets in March, it said on Tuesday.
This just beat its target in the first month of a program designed to revive the eurozone economy, RTE reported.
The ECB has committed to buying €60 billion of assets a month with newly created money until September 2016, or longer if needed to get inflation back on track to hit its target of just below 2%.
Purchases of public-sector bonds started on March 9, while those of other assets such as covered bonds and asset-backed securities began earlier.
An ECB spokesman said that for March alone, net asset purchases reached €60.953 billion. Weekly data earlier in March had already shown the ECB exceeding its purchase targets.

  Reduced Liquidity
Figures for the week ending April 3 showed a fall in government bond purchases, but economists attributed this to reduced liquidity in bond markets in the run-up to the Easter holidays in western Europe, rather than a more permanent shortage of bonds.
Some economists had raised concerns that a shortage of bonds that met the ECB’s purchase criteria could pose a problem.
Analysts said the asset purchase data coincided with upbeat data on financing conditions and confidence, which suggested QE was succeeding in lifting morale in the euro zone.
The ECB said it bought €11.5 billion of government bonds in the fourth week of its program, down from €14.7 billion in the third.
Total purchases since March 9 stood at €52.555 billion.
The ECB said that in addition to the public-sector bonds, it had settled €64.670 billion in total covered bond purchases as of April 3, and €4.888 billion in purchases of asset-backed securities (ABS).
Both of those programs were announced in September.

Short URL : http://goo.gl/OVisGX

You can also read ...

Qatar Capable of Overcoming Siege Challenges
Qatar affirmed its ability to overcome the challenges of the...
Apple Inc won guarantees from the Trump administration that its lucrative iPhones would ship from China  without being subject to tariffs.
Big companies in the United States from Amazon.com Inc to...
Japan Inflation Inches Higher
Japan’s inflation picked up slightly in June, largely because...
Today, income inequality in the US is greatest among Asians. Asians displaced blacks as the most economically divided racial or ethnic group in the US.
The rich are getting richer and the poor are getting poorer in...
Argentina Making Fiscal Progress
Argentina is “unequivocally” making progress on its goals to...
State-Actors Likely Behind Singapore Cyberattack
State-actors were likely behind Singapore’s biggest ever...
S&P Affirms Russia’s Stable Outlook
Standard & Poor’s said in a statement on Friday that it...
Growing Inflation Looms Large Over India’s Economy
From rising crude oil prices to a poor start to rice-planting...

Trending

Googleplus