ECB Seeks to Shed ‘Uncomfortable’ Bond-Buying Duty: Euro Credit
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The European Central Bank is eager for Europe’s rescue fund to take responsibility for buying government bonds. Germany, though, may resist the switch.
“The ECB has always been uncomfortable with the purchases and it really wants out now,” said James Nixon, a former ECB forecaster who now works as co-chief European economist at Societe Generale in London. “It wants to go back to the day job of keeping a lid on inflation, and the program is starting to interfere with its monetary policy operations.”