ECB snaps up corporate bonds to boost eurozone
Central bank takes unprecedented step in bid to get major companies to increase investments and create jobs
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Berlin
THE European Central Bank on Wednesday took the unprecedented step of buying corporate bonds, its latest weapon in a desperate battle to kick-start sluggish growth and inflation in the eurozone.
Having already slashed interest rates to below zero and pumped massive amounts of cash into financial markets, it started to directly finance businesses by buying their debt in the bond market.
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