ECB ‘content’ with bond scheme

The European Central Bank is satisfied with the effects of its bond-buying programme on the economy and inflation and has no intention of ending it prematurely, ECB executive board member Yves Mersch has said.

In March, the ECB started buying €60bn worth of eurozone government bonds a month to inject more cash into the economy and reverse a trend of falling prices.

“We have stopped the negative bank lending rates and are starting to get new credit into the economy through the banking system,” Mersch told Luxembourg radio.