| One of the market’s least-well-kept secrets is that the European Central Bank is readying a plan to buy private debt in the secondary market. After ECB president Jean-Claude Trichet failed to deny such a plan at the European Parliament economic committee on Monday, expectations are growing that the move could be announced as early as tomorrow, April 2. If the ECB does usher in quantitative easing it will be following in the footsteps of the UK, US, Switzerland and Japan, but would face political pressures that are unique to the eurozone. |
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