ECB launches quantitative easing

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The European Central Bank (ECB) will buy a combination of public and private assets worth €60 billion a month until September 2016, it announced today.

This includes the asset-backed securities (ABS) and covered bonds the ECB has already committed to buying, in addition to investment-grade debt issued by "governments, agencies and European institutions".

The ECB did not state how it will divide the €60 billion between securities, but it is already spending around €12 billion per month on ABS and

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