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Euro bond buys cut
Source: Agencies |
September 27, 2011, Tuesday
|
Print Edition
Print Edition
THE European Central Bank has cut its government bond purchases to 3.95 billion euros (US$5.3 billion), slowing the program that is keeping the debt crisis from dragging down more countries.
The figure announced yesterday compared with 9.8 billion euros available the week before.
Buying Spanish and Italian bonds drives the prices up and lowers their yields, which move in opposite directions. Lower yields takes financial pressure off the governments by reducing the borrowing costs they face in the bond markets.
The figure announced yesterday compared with 9.8 billion euros available the week before.
Buying Spanish and Italian bonds drives the prices up and lowers their yields, which move in opposite directions. Lower yields takes financial pressure off the governments by reducing the borrowing costs they face in the bond markets.
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