ECB Said Planning Massive Govt Debt, Bond Buying Program (FXE)

The euro is positive in early trading Friday following news that the European Central Bank (ECB) is mulling a massive quantitative easing initiative to bolster inflation and steady the currency.

According to Bloomberg, the ECB could perform open-market operations of as much as €500 billion this year. The bank would purchase investment-grade assets under the proposed model.

Options include buying only 'AAA'-rated government debt or 'BBB-'-or-better-rated government bonds.

The ECB is currently purchasing asset-backed securities and covered bonds.

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