Greek bond yields again drop after ECB decision to continue debt-buyback scheme
ECB President Christine Lagarde said the euro-zone’s central bank will continue its debt-buyback scheme – at least until September
Yield on Greek bonds in the secondary market, as expected, receded in the wake of the ECB’s “nod” this week to the markets to continue to buy the “riskier” securities floated by euro-zone members, such as Italy and Greece.
ECB President Christine Lagarde said the euro-zone’s central bank will continue its debt-buyback scheme – at least until September.
A press release on Thursday, following a meeting of the ECB’s governing council, noted that the ECB “will continue to conduct net asset purchases under the pandemic emergency purchase programme (PEPP) with a total envelope of €1,850 billion (1.85 trillion euros) until at least the end of March 2022 and, in any case, until it judges that the coronavirus crisis phase is over. Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council expects net purchases under the PEPP over the coming quarter to continue to be conducted at a significantly higher pace than during the first months of the year.”
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