Rate-setters at European Central Bank will continue bond buying

Chris Papadopoullos
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MINUTES of a meeting of Eurozone rate-setters yesterday revealed that members were committed to continuing their €60bn (£43bn) a month bond buying programme until September 2016.

The programme was launched by the European Central Bank (ECB) in March to boost the economy.

The Eurozone economy grew by 0.4 per cent during the first three months of the year, up from 0.3 per cent in the last three months of last year.

ECB governing council members concluded risks about the scarcity of bond market supply linked to the quantitative easing scheme had been overstated, and there was no need to consider any change in the bank’s monetary stance.

“(But)... such a scenario was predicated on the full implementation of the policy measures taken by the governing council since mid-2014,” they said.