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    21.03.2016 15:34 European Central Bank purchases €12.4 billion of government and agency bonds last week

    The European Central Bank (ECB) purchased €12.4 billion of government and agency bonds under its quantitative-easing program last week.


    The ECB bought €1.8 billion of covered bonds, and €100 million of asset-backed securities.


    The ECB cut its interest rate to 0.00% from 0.05% and deposit rate to -0.4% from -0.3% at its March monetary policy meeting. The ECB also expanded its monthly purchases to €80 billion from €60 billion, to take effect in April. Purchases will include non-bank corporate debt.


    The central bank will launch further four targeted longer-term refinancing operations (LTRO).

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