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ECB's purchase of ABS pays off as prices rise

Rates at highest levels in more than seven years spur banks to offload bonds

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Mr Draghi’s purchase programme is breathing life into the asset-backed securities market.

Brussels

EUROPEAN Central Bank (ECB) president Mario Draghi's plan to stimulate Europe's economy by buying asset-backed securities (ABS) is starting to show signs of working.

The ECB's purchase of four billion euros (S$6 billion) of notes since November is pushing prices to the

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