ECB Asset Buying Slows to Weakest Under QE in Summer Lull
- Central bank purchased 51.6 billion euros of assets in August
- ABS program in particular suffering from weak market supply
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The European Central Bank’s asset purchases last month slowed to the weakest since quantitative easing started in March as liquidity dried up during Europe’s summer holiday period.
Holdings of government and agency debt, covered bonds and asset-backed securities rose by 51.6 billion euros ($57.6 billion) in August, the ECB said on Monday. The increase compares with 61 billion euros in July and 63 billion euros in each of May and June.