One Trillion Euros Spent & This is What Draghi Has to Show for It

from Zero Hedge

It’s been 16 months since the European Central Bank began its voyage into the unknowable in March 2015, and as The FT notes, this week marks a milestone – it has now purchased over EUR 1 trillion in government (and corporate) bonds since it began QE.

The ECB buys bonds through the eurozone’s national central banks and in line with a member state’s overall contribution to eurozone GDP.

Among its three largest economies, the ECB has snapped up a total of €238bn in German Bunds, €189bn in French paper, and €164bn in Italian bonds since last March.

Policymakers announced they would begin buying non-bank corporate debt earlier this year. Total ECB holdings of company bonds now stand at €20.5bn, with asset backed securities hitting €19.91bn.

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