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ECB buys €98m of Cypriot securities, €1.3bn eligible, Bank of Cyprus says

By Stelios Orphanides

The European Central Bank purchased since July a total of €98m in Cypriot government securities with an average maturity of 5.27 years as part of its expanded asset purchase programme, also known as quantitative easing, Bank of Cyprus said.

“Cyprus is eligible for a total of €2.2bn throughout the quantitative easing programme,” which aims at stimulating the euro area’s anaemic growth and helping the ECB meet its medium term inflation target of 2 per cent, Bank of Cyprus said in an emailed statement.

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