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Some ECB Members Identify 2.5 Trillion-Euro QE Limit

  • Spare capacity in 2018 might be just over 200 billion euros
  • Officials disagree on whether to set end-date for program
The stars of the European Union (EU) sit on banners flying outside the European Central Bank (ECB) headquarters stands in Frankfurt, Germany, on Thursday, July 20, 2017. Frankfurt has emerged as a winner of the Brexit vote, with Standard Chartered Plc, Nomura Holdings Inc., Sumitomo Mitsui Financial Group Inc. and Daiwa Securities Group Inc. picking the city as their EU hub in recent weeks.
Photographer: Krisztian Bocsi/Bloomberg
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Some European Central Bank policy makers see room for little more than 200 billion euros ($235 billion) of purchases under the institution’s bond-buying program next year, according to central-bank officials familiar with the matter.

The ECB is likely to run out of available debt under current rules at just over 2.5 trillion euros, the officials said, asking not to be named as the matter is private. With purchases set to reach 2.28 trillion euros by the end of 2017, talks are focused on how to spread the additional capacity, they said.