ECB to start bond purchases on March 9

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The European Central Bank will start buying government debt in its new quantitative easing programme on March 9, ECB chief Mario Draghi said on Thursday.

“Following up on our decisions of January 22, we will, on March 9, start purchasing euro-denominated public sector securities in the secondary market,” Draghi told a news conference in Nicosia.

“The combined monthly purchases of public and private sector securities will amount to €60 billion. They are intended to be carried out until the end of September 2016 and will, in any case, be conducted until we see a sustained adjustment in the path of inflation which is consistent with our aim of achieving inflation rates below, but close to, 2% over the medium term,” Draghi added.

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