ECB’s Market Dilemma: What Happens When Bond Supply Dries Up?

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ECB President Mario Draghi intends to maintain the program, called quantitative easing, through September 2016.

Photographer: Martin Leissl/Bloomberg

As the European Central Bank purchases bonds in an effort to stimulate the euro region’s economy, policy makers in Frankfurt face a dilemma: what to do when they run short of securities to buy.

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