#AceFinanceNews – DAVOS:Jan.22: In its most aggressive move yet to rouse the listless eurozone economy, the European Central Bank agreed Thursday to buy 60 billion euros a month in government bonds to hold down interest rates and pump cash into the banking system.
The bond purchases are aimed at holding down already low interest rates, filling bank coffers with cash and prompting consumers and businesses to borrow more, juicing the economy. They’re also intended to further push down the euro, boosting European exports, and channel more investments into stocks to drive up markets.
The purchases will begin in March and continue through at least September 2016 and will total about $1.1 trillion euros.
The monetary policy shift, which would see the ECB buy sovereign bonds and other assets as part of a quantitative easing plan to stave off the looming threat of deflation and spur growth, mirrors central bank action already taken in the United States, the United Kingdom and Japan.
Earlier Thursday ahead of the announcement, the ECB decided to leave benchmark interest rates, the cost of borrowing at the central bank, at 0.05%.
#AceFinanceNews – WASHINGTON:Jan.22: The 2016 presidential election could cost as much as $5 billion, according to top fundraisers and bundlers, who are already predicting it will more than double the 2012 campaign’s price tag.
Behind-the-scenes jockeying to raise big bucks from bundlers connected to super-PACs and third-party groups is well underway, even with no top-tier candidates officially in the race.
#AceFinanceNews – USA:Jan.22: The e-commerce giant reported adjusted fourth-quarter profits per share of 90 cents, beating Wall Street estimates by a penny.
Revenues, meanwhile, of $4.9 billion were in-line with economists’ expectations.
EBay shares traded more than 1% lower in after-hours action.
Ace News Finance Report: