ECB bond purchase effect wearing off, warns IMF

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The effects of the European Central Bank's (ECB) unprecedented venture into bond markets are now wearing off and financial stability risks are on the rise once again, the IMF said on Wednesday.

In an update to its Global Financial Stability Report, the Fund noted that although the ECB's €59m ($74.7m) of bond purchases to date had helped, spreads between southern eurozone government debt and benchmark German bunds had windened. Spain and Italy were cited as examples, with the IMF pointing out tha

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