LONDON, June 28 (Reuters) - The European Central Bank will buy around 50 billion euros ($58 billion) of German government bonds next year as it looks to reinvest funds from maturing bonds purchased under the bank’s stimulus scheme, Germany’s debt management agency said.
“We expect the ECB to buy around 50 billion euros of our 2,5,10,30-year bonds in 2019 in order to keep the portfolio stable and that is roughly a third of our long-dated issuance activity overall,” Tammo Diemer, a member of the German Finance Agency’s executive board, told Reuters in an email.
The ECB’s massive asset-purchase programme is scheduled to end in December but it will reinvest cash from maturing debt, ensuring a strong central bank presence in bond markets for some time to come. (Reporting by Dhara Ranasinghe; editing by Sujata Rao)
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