Markets baffled as ECB buying Irish bonds

UPDATE: Noonan says we have no plans to ask the euro fund to buy Irish debt, as sources say ECB has been buying three and five year Irish bonds since last Friday

30th November, 2011
Markets baffled as ECB buying Irish bonds
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The European Central Bank has been buying three and five year Irish government bonds since last Friday, according to market sources spoken to by the *Daily Business Post*.

This is the first time since last August that the ECB has bought Irish bonds, the sources say. There is some mystification in the market as to why it is undertaking this course of action at this time.

Speaking in Brussels, finance minister Michael Noonan said the...

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