“The European Central Bank bought 1.9 billion euros worth of corporate bonds in its first full week of purchases, at the upper end of market expectations, signalling a strong start to its latest measure designed to revive inflation. Unveiled in March as part of a 1.74 trillion euro asset-buying plan, the ECB started buying investment grade, non-bank corporate bonds on June 8. It hopes that lowering corporate borrowing costs will induce companies to invest, boosting inflation and economic growth. Sources with direct knowledge had earlier said the ECB was hoping to lure new issuers to the market and would buy 5 billion to 10 billion euros worth of corporate debt per month if new debt sales ramped up.”
http://www.reuters.com/article/ecb-qe-idUSF9N18B01A
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