ECB could purchase 50 bn euros of bonds per month: Report

The European Central Bank`s executive board has drawn up proposals to buy 50 billion euros ($58 billion) of sovereign bonds per month until the end of 2016, Bloomberg reported on Wednesday.

The European Central Bank`s executive board has drawn up proposals to buy 50 billion euros ($58 billion) of sovereign bonds per month until the end of 2016, Bloomberg reported on Wednesday.

Quoting two euro-area central bank officials, the news agency said the scheme of so-called quantitative easing or QE would be discussed by the ECB`s decision-making governing council starting from Wednesday and continuing on Thursday.

But the proposals could still change significantly, it quoted the sources as saying. 

The purchases would not start before March 1, one of the sources added. 

An ECB spokesman declined to comment on the report.

Under the plans, the ECB would increase its balance sheet by as much as 1.1 trillion euros in a drive to stave off the threat of deflation in the 19 countries that share the euro.

ECB chief Mario Draghi was expected to unveil the details of the QE programme in its final form at a press conference on Thursday.

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