December 4, 2017 / 3:04 PM / 10 days ago

ECB to pause bond buys around Christmas

FRANKFURT, Dec 4 (Reuters) - The European Central Bank will not purchase bonds as part of its stimulus package from Dec 21 to Dec 29 on expectation market liquidity will drop sharply around the Christmas holidays, it said on Monday.

“Moreover, purchases in December will be somewhat frontloaded to take advantage of the relatively better market conditions expected during the earlier part of the month,” the ECB added. “Purchases will resume on 2 January 2018.”

Securities lending will however continue as usual even when bond purchases are stopped.

The ECB is currently buying 60 billion euros worth of bonds a month and the purchases are set to drop to 30 billion euros from January. (Reporting by Balazs Koranyi; Editing by Francesco Canepa)

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