London . – European shares closed higher on Wednesday in volatile trading amid nervousness of investors amid growing speculation about the size and period of a purchase program bonds is expected that the European Central Bank revealed this week.
A source told Reuters Eurozone Wednesday that the ECB governing council proposed that the monthly bank bought 50,000 million euros (58,000 million) bonds since March.
The pan-European FTSEurofirst 300 index closed up 0.45 percent to 1429.26 points.
Meanwhile, Britain’s FTSE 100 rose 1 , 63 percent, Germany’s DAX gained 0.41 percent and France’s CAC-40 rose 0.87 percent.
The executive committee of the European Central Bank proposed a program of quantitative easing would consider shopping bond 50,000 million euros (58,000 million dollars) per month from March, a source said on Wednesday the euro zone.
The Wall Street Journal reported that lasted at least one year and Bloomberg said the purchase would last until the end of 2016.
The duration is significant and also a cause for differences because Germany wants to limit the size of bond purchases.
A program that starts in March and lasts for one year would totaling 600,000 million euros, based on purchases of 50,000 million euros per month. If a similar plan extends to the end of 2016, would exceed one billion euros.
The executive committee of six members of the ECB, which met on Tuesday, is the core of the 25 members of the Governing Council which sets policies and is convened on Thursday to decide if the bank initiates a program of quantitative easing, ie printing money to buy bonds.
Market expectations are high with forecasts that the ECB will announce a large-scale plan, despite the opposition of the German central bank-the Bundesbank, and concern in Berlin that the initiative will generate a wave of wasting resources in countries that have been slow to implement economic reforms.
A Reuters poll of market participants showed on Monday that he expects the ECB to announce a plan to purchase sovereign bonds 600,000 million, although not believe it will be sufficient for a declining inflation back to the target of the monetary authority.
Consumer prices in the euro zone fell by 0.2% year on year last month, well below the goal of the European Central Bank just under 2 percent.
The ECB has already cut interest rates to historic lows, began buying private sector assets and has provided hundreds of billions of dollars in cheap loans to banks. QE is the last major monetary policy tool available.
When buying sovereign bonds, the ECB would show its commitment to boost inflation. Also generate a “portfolio effect” that would lead investors to move to other assets, some outside the euro area, which depreciate the single currency.
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