Draghi Said to Seek German Support on Bond Sterilization
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European Central Bank President Mario Draghi would only consider ending the sterilization of crisis-era bond purchases if he’s openly backed by the Bundesbank, according to two euro-area central bank officials familiar with the debate.
Ending the liquidity drain would add almost 180 billion euros ($243 billion) to the euro-area financial system at a time when officials are trying to curb volatility in money markets and official interest rates are close to zero.