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Dovish Draghi Insists No Discussion Of ECB Tapering, Technical Changes Announced
ECB President Draghi announced technical changes to the bond-buying programme with changes in the parameters to alleviate the shortages of bonds to buy. The ECB will extend the programme so that the minimum length of eligible bonds, which can be bought will be lowered to 1 year from 2 years. From January 2017, it will also be possible for the bank to buy bonds, which yield less than the current deposit rate of -0.4%. Draghi insisted that the decision did not represent a tapering of bond purchases and that the issue of tapering had not been discussed in the meeting. There was confirmation that the amount of bond ... (full story)