European Central Bank is buying bonds to curb the rise in yields

Today's data showed that the European Central Bank increased its bond purchases last week to curb the rise in yields, leading to an intensification of its activity in the market even before policymakers decided to significantly increase asset purchases.

The bank purchased 14.0 billion euros of bonds under the pandemic emergency purchase program from 11.9 billion euros last week, along with other purchase plans, to reach 19.3 billion euros, up from 17.1 billion euros last week.

Under the Pandemic Emergency Purchase Program, the European Central Bank can purchase 75 billion euros of bonds per month without increasing its total share of 1.85 trillion euros, and economists expect purchases in this range in the coming months.