European Central Bank policy makers last night debated a plan to buy roughly €50bn of government bonds a month for between one and two years, in a landmark stimulus package to counter deflation in the eurozone.
Officials stressed that no formal decision had been made by late yesterday evening, and described the situation as fluid. But all the signs were that the ECB was preparing to embark on large scale quantitative easing for the first time.
The ECB policy makers have debated the size of monthly purchases in telephone calls, according to two people familiar with the matter. The 25-
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