European Central Bank (ECB) president Mario Draghi has announced an asset purchase programme that could total more than €1trn in an attempt to revive the eurozone's flagging fortunes.
The central bank will begin a bond-buying programme in March, Draghi said today, purchasing €60bn of assets each month until the end of September 2016 or until inflation displays a sustained improvement. The figure is at the higher end of investor expectations, and above the €50bn per month figure rumoured yesterday. Significantly, the programme will encompass bonds ranging from two to 30 years in maturity. Asset purchases will be made by national central banks, with up to 20% of any losses being shared. "Today's measures will decisively underpin the firm anchoring of medium- to lo...
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