The European Central Bank (ECB (Toronto: BCE-PA.TO – news)) bought corporate bonds worth 348 million euros Wednesday, the first day of its intervention in this market, said Monday.
this figure only covers purchases of June 8, made only in the secondary market, where bonds are traded freely and issued.
If the ECB maintains this daily rhythm, disburse around 7,000 million euros a month to buy corporate debt, a type of asset that just added to its quantitative easing program started in March 2015.
the asset purchase program ECB amounted to a total of about 80,000 million euros per month. The bulk of this amount is used to buy sovereign bonds issued by member states of the euro zone.
In extending its program to purchase corporate bonds, the ECB wants to improve their access to finance. The aim is to encourage them to invest, to stimulate growth and prices in the euro zone
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