ECB Exceeds Irish-Bonds Mandate for First Time Since 2016: Chart

(Bloomberg) -- The European Central Bank bought more Irish bonds in November than mandated by its so-called capital key last month. Historically, the ECB has struggled to buy the nation’s bonds owing to a shortage. This “confirms that while the ECB is deviating from its preferred allotment method, due to scarcity or any other reason, it will use that same flexibility to fill any gaps when possible,” said Kim Liu, a strategist at ABN Amro.

--With assistance from Zoe Schneeweiss

To contact the reporter on this story: John Ainger in London at jainger@bloomberg.net.

To contact the editor responsible for this story: Ven Ram at vram1@bloomberg.net.

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