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ECB policymakers disagreed on package’s size, not length: sources

European Central Bank policymakers disagreed on the size of their new pandemic-fighting programme at a meeting on Thursday before settling on half a trillion euros of additional bond purchases, two sources told Reuters.

Some policymakers at the meeting proposed additional bond purchases of around 600 billion euros ($728 billion) while others called for amounts closer to 400 billions euros, before the sides compromised around the half way mark.

There was no debate about the duration of the programme, which will now last at least until March 2022, the sources added.

While there was no vote, a large majority of rate-setters spoke in favour of the package as it had been presented by chief economist Philip Lane and no-one objected when the draft policy statement was read out, the sources said.

An ECB spokesman declined to comment.
Source: Reuters (Reporting By Francesco Canepa, Balazs Koranyi and Frank Siebelt)

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