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ECB chiefs target Eur50bn a month for landmark bond-buying plan

European Central Bank policymakers were debating a plan last night to buy around Eur50bn of government bonds a month for 1-2 years in a landmark stimulus package to counter eurozone deflation. While officials stressed that no formal decision had been reached by late yesterday evening, all the signs were that the ECB was preparing to launch large-scale quantitative easing for the first time. As details of the QE proposal broke, German 10-year bond yields rose to their highest level since the end of last year and German inflation expectations jumped. European stocks reversed a sharp early fall to close 0.6% higher, while the S&P 500 was also up 0.6% at 2,035.

 

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