FRANKFURT (MNI) – The European Central Bank announced on Monday
that it had settled no bond buys in the week ending March 16 following
E27 million worth of new sovereign debt purchases over the prior period.

With the central bank remaining on the sidelines for the fourth
time in five weeks, the cumulative total still on the bank’s balance
sheet remained at E218.0 billion. As usual, the central bank said it
will seek to sterilize the entire amount through a quick tender to
collect one-week term deposits.

The deposit tender, to be held Tuesday at 1030 GMT/0630 ET, will be
conducted as a variable-rate operation with a maximum bid rate of 1.0%,
the ECB said. The fixed-term deposits can be used as collateral in the
Eurosystem’s credit operations.

— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —

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