ECB: Speculation Over Bond Buying Plan Misleading

Reuters

The European Central Bank on Monday sought to quash speculation about the shape its planned bond-buying program will take, saying that it is misleading to talk about decisions not yet taken.

Over the weekend, German magazine Der Spiegel said the ECB is considering setting interest rate thresholds for any purchases of struggling euro zone country's bonds so that it would buy such bonds if their interest rates exceeded a certain premium over German bonds.

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"It is absolutely misleading to report on decisions, which have not yet been taken and also on individual views, which have not yet been discussed by the ECB's Governing Council, which will act strictly within its mandate," an ECB spokesman said.

"As far as recent statements by government officials are concerned, it is also wrong to speculate on the shape of future ECB interventions. Monetary policy is independent and undertaken strictly within the ECB mandate."

(Reporting by Sakari Suoninen and Marc Jones)