ECB Fails to Sterilize Bond Purchases With Deposits
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The European Central Bank failed to fully neutralize the liquidity created by its bond purchases for the third time since the program began.
The Frankfurt-based central bank said today it drained 68.2 billion euros ($93.9 billion) from money markets via seven-day term deposits, 8.3 billion euros less than the 76.5 billion euros it intended to absorb.