ECB will not apply issuer limit in new crisis fighting QE – Reuters

The European Central Bank (ECB), in a legal text, it will not apply self-imposed purchase limits on its EUR 750 billion bond buying scheme announced to fight the coronavirus crisis, per Reuters.

The ECB said that it will also expand the list of eligible securities.

The ECB will be allowed to buy debt with a maturity of as short as 70 days, compared to one year in previous purchases, and a limit on buying no more than 33% of any country’s debt, will not apply,” the text showed.

EUR/USD reaction

EUR/USD keeps the gains above 1.0900 amid broad-based US dollar weakness, having faded another attempt to take out the 1.1935 level.