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ECB Under Pressure to Extend QE Program
The central bank is running out of bonds to buy for its QE program. The European Central Bank (ECB) is expected to follow the lead of the other two major central banks that released rate statements this week. The Reserve Bank of Australia (RBA) and the Bank of Canada (BoC) both kept rates unchanged and did not offer any monetary policy commitmenst on their statements. Growth in the eurozone remains subdued and there is mounting pressure on the ECB to act. The market estimates that there has to be a change in the rules that restrict the central bank in their bond purchases. The rules could be relaxed but an agreement ... (full story)
