ECB’s Nowotny: bond buying has stabilised markets

VIENNA, May 11 (BestGrowthStock) – The European Central Bank’s move
to buy government bonds has stabilised frenetic markets and it
makes sense to continue it, Ewald Nowotny, one of the bank’s
Governing Council members, told Reuters on Tuesday.

“The way how it is moving now it’s quite positive,” Nowotny
said in an interview with Reuters Insider television.

“Intention is to get again control of the unorderly markets
and I think this is a goal that has been achieved remarkably in
an effective way, so I think it makes sense to stay on the way
we have started.”

Euro zone central banks started buying government bonds on
Monday as a key part of a $1 trillion bid to resolve the
region’s debt crisis.

Details of the plan remain vague, however. There is still no
hint of how much the ECB is prepared to spend, what maturities
or bonds it will target, if it has specific aims for yields or
how long it expects the process to take.
Stock Research

(Writing by Marc Jones and Martin Santa, editing by Mike
Peacock)

ECB’s Nowotny: bond buying has stabilised markets