ECB Slows Pace of Pandemic Bond-Buying Ahead of Easter Break

The European Central Bank nearly halved the pace of bond-buying under its pandemic program last week as many countries across the region observed Easter holidays.

The institution settled net purchases of 10.6 billion euros ($12.6 billion) in the week ended April 2, following amounts of about 20 billion euros in the previous two weeks, according to a statement. Policy makers decided to step up buying at their March meeting as massive U.S. fiscal stimulus drove yields higher, threatening the euro-zone recovery.