FRANKFURT, Germany (AP) -- The European Central Bank increased slightly its government bond purchases last week to euro124 million ($162 million), a second straight week in which it made only modest use of a program that has helped the eurozone fend off financial meltdown.
The purchases announced Monday compare with a scant euro63 million the week before that. Purchase amounts have varied recently; the bank purchased a more substantial euro2.24 billion the week ending Jan. 20.
The ECB's purchase are part of the bank's efforts against Europe's crisis over too much government debt. They have helped lower borrowing costs for heavily indebted governments, although the ECB stresses the purchases must remain limited.
There are no comments yet