Bloomberg News - Coeure Says ECB to Moderately Front-Load QE Buying in May, June

Benoit Coeure.

Photographer: Jason Alden/Bloomberg

The European Central Bank intends to increase its purchases of euro-area assets in May and June ahead of an expected low-liquidity period in the summer, Executive Board member Benoit Coeure said.

“We are also aware of seasonal patterns in fixed-income market activity with the traditional holiday period from mid-July to August characterized by notably lower market liquidity,” Coeure said, according to the text of a speech delivered in London on Monday. “If need be, the frontloading may be complemented by some backloading in September when market liquidity is expected to improve again. The slightly higher purchase volume that market analysts may observe in the coming weeks is therefore unrelated to the recent episode of market volatility.”