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ECB Spends Less On Buying Bonds
Source: Agencies |
September 20, 2011, Tuesday
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Print Edition
Print Edition
THE European Central Bank spent less money trying to keep down the borrowing costs of struggling countries like Italy and Spain last week.
Figures released yesterday showed that bond purchases dropped to 9.79 billion euros (US$13.33 billion), down from 14 billion euros invested a week earlier.
The ECB restarted its controversial bond-buying program in August as investors - worried about the debt of Italy and Spain - drove up the two countries' borrowing costs. The purchases are designed to prop up bond prices, and keep down interest rates, during a market sell-off.
Figures released yesterday showed that bond purchases dropped to 9.79 billion euros (US$13.33 billion), down from 14 billion euros invested a week earlier.
The ECB restarted its controversial bond-buying program in August as investors - worried about the debt of Italy and Spain - drove up the two countries' borrowing costs. The purchases are designed to prop up bond prices, and keep down interest rates, during a market sell-off.
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