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Draghi Says ECB Will Buy Assets Over at Least Two Years
The European Central Bank will buy assets for at least two years to boost inflation and economic growth in the euro area, President Mario Draghi said. The Frankfurt-based central bank will start buying covered bonds this month and plans to purchase asset-backed securities starting this quarter, Draghi said today at a press conference in Naples, Italy, after the ECB left interest rates unchanged at record lows. “These purchases will have a sizable impact on the balance sheet,” he said. The purchase program is part of an easing plan Draghi has said will steer the balance sheet back to levels seen at the start of ... (full story)