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ECB extends asset purchase programme to March '17 or beyond

It also cuts key interest rate to -0.3%; leaves refinancing rate and marginal lending rate unchanged

Published Thu, Dec 3, 2015 · 09:50 PM

Frankfurt

THE European Central Bank (ECB) adjusted its asset purchase programme (APP) also known as quantitative easing on Thursday, extending the scheme's duration into 2017 and agreeing to buy euro-denominated municipal and regional bonds, ECB president Mario Draghi said.

Purchases of mainly government bonds - at 60 billion euros (S$90.8 billion) a month - are now seen running until at least March 2017 instead of next September.