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ECB's Nowotny says securities-buying scheme less successful than hoped
September 4, 2015 / 2:55 PM / 2 years ago

ECB's Nowotny says securities-buying scheme less successful than hoped

ALPBACH, Austria, Sept 4 (Reuters) - The European Central Bank’s purchasing of asset-backed securities, which reparcel debt based on loans, with the aim of boosting growth in Europe, has not been as successful as it had hoped, Governing Council member Ewald Nowotny said on Friday.

Under the quantitative easing programme that started in early March, the ECB aims to purchase 60 billion euros a month of securities, including bonds, asset-backed securities and covered bonds. (Reporting By Shadia Nasralla; Editing by Francois Murphy)

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