The Adobe Flash Player is required to view this multimedia interactive. Get it here.

European Central Bank bond purchases dwindle

Asphalt can only be sealed; only concrete is resurfaced
10:43 a.m.
Dollar stores get wider range of customers
10:32 a.m.
Honda gets a double-shot of good consumer news
10:30 a.m.
Anthem puts emphasis on quality
10:29 a.m.
UD researcher uses know-how to photograph local eagles
5/25/12
> More headlines

The Associated Press 10:56 AM Monday, February 13, 2012

FRANKFURT, Germany — The European Central Bank bought €59 million in government bonds last week as it again made only modest use of a tool that has supported indebted governments during the eurozone debt crisis.

The purchases announced Monday compared to €124 million from the week before and €63 million the week before that.

The last time the bank bought more than a billion euros in bonds was the week ending Jan. 23, when it bought €2.24 billion.

The bond purchases helped keep borrowing costs down for Italy and Spain during the worst of the eurozone debt crisis last year.

Since the start of this year, indebted governments have found it easier to borrow thanks partly to another ECB program that provided cheap loans to banks. Some banks used that money to buy government bonds.

___

February 13, 2012 03:51 PM EST

Share this article