ECB Launches Big Bond Buy-Up
Let the spree begin. The European Central Bank announced today that it’s launching a massive bond-buying program to tackle stagnation in the eurozone. The government bond purchases get underway in March to the tune of nearly $70 billion a month. This move toward quantitative easing is aimed at heading off deflation which, if left unchecked, could lead to higher unemployment. It marks an more aggressive stimulus program than expected, but many still fear it’ll be too little, too late.