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ECB's balance sheet expands as it begins stimulus programme

Reuters

FRANKFURT (Reuters) - The balance sheet of the European Central Bank and the euro zone's national central banks expanded by 7.298 billion euros ($7.76 billion) to 2.142 trillion euros in the week to March 13, the ECB said on Tuesday.

The increase came as the ECB began buying sovereign bonds under an asset purchase plan that aims to pump 1 trillion euros into the euro zone economy with a view to lifting inflation from below zero back up towards its target of just under 2 percent.

The ECB's gold reserves fell by 27 million euros to 343.8 billion euros.

(Reporting by John O'Donnell; Editing by Paul Carrel and Catherine Evans)