ECB Maintains Faster Pace of Weekly Bond-Buying Amid Summer Lull

The European Central Bank settled 10.8 billion euros ($11.9 billion) of public-sector bond purchases last week, sticking to its increased pace to counter the summer lull.

The central bank’s purchases in the week through Aug. 7 took the total to 259.7 billion euros since the program started in March, data from the Frankfurt-based institution showed on Monday. It boosted the purchases of covered bonds to 2.6 billion euros, from a 2.3 billion-euro pace in the previous week.

In the first week of the quantitative-easing plan, which aims to acquire 1.1 trillion euros of bonds through September 2016, the central bank settled 9.75 billion euros.

ECB Executive Board member Benoit Coeure said on May 18 that the central bank would increase the pace of bond-buying to counter expected lower liquidity in July and August.

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