- Plan to include pledge to to buy unlimited amounts of bonds, sterilized (no QE)
- Plan will refrain from making yield caps public
- ECB said to consider selling bonds if conditions not met
- Plan has broad support on council, Weidmann the only holdout
- Plan to focus on government bonds with maturities up to three years
The plan was set to be revealed to the 17 national central banks yesterday. Looks like someone leaked it to the press.