samedi 11 avril 2015
EU: Draghi Beams as QE Yields First Results
Posted on 08:20 by nice news
The European Central Bank (ECB) will most likely keep interest rates unchanged at a record 0.05% low on Wednesday, April 15, as it prepares to assess the impact of its signature stimulus or the quantitative easing program it began in March, officially known as the "Public Sector Purchase Programme", or PSPP for short.
The bank said on Tuesday that the Eurosystem -- the ECB and the euro zone's national central banks -- had managed to reach the purchase target in the first month of the QE program. The ECB said in a report that the Eurosystem banks bought €47.4 billion of public-sector purchases during the third month of the year. The rest of the monthly €60 billion quota was filled with covered bonds and asset-backed securities.
The combined balance sheet of the Eurosystem expanded in the week to April 3, data showed on Thursday, bringing the central bank closer to its target of about €3 trillion in the next two years.
The gauge expanded by €83.325 billion to €2.334 trillion in the seven days to last Friday, the ECB said in a press release.
"The ECB’s easy-money policies are rippling beyond markets for relatively safe government debt. Companies and countries seen as risky have been able to borrow money at rock-bottom costs. (Greece is the notable exception.) Some borrowers are enjoying debt-market access for the first time in years," the Wall Street Journal wrote about the ECB's stimulus program last week.
The bank said on Tuesday that the Eurosystem -- the ECB and the euro zone's national central banks -- had managed to reach the purchase target in the first month of the QE program. The ECB said in a report that the Eurosystem banks bought €47.4 billion of public-sector purchases during the third month of the year. The rest of the monthly €60 billion quota was filled with covered bonds and asset-backed securities.
The combined balance sheet of the Eurosystem expanded in the week to April 3, data showed on Thursday, bringing the central bank closer to its target of about €3 trillion in the next two years.
The gauge expanded by €83.325 billion to €2.334 trillion in the seven days to last Friday, the ECB said in a press release.
"The ECB’s easy-money policies are rippling beyond markets for relatively safe government debt. Companies and countries seen as risky have been able to borrow money at rock-bottom costs. (Greece is the notable exception.) Some borrowers are enjoying debt-market access for the first time in years," the Wall Street Journal wrote about the ECB's stimulus program last week.
EU: Draghi Beams as QE Yields First Results
Categories: EU: Draghi Beams as QE Yields First Results
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