Analytics, Banks, Financial Services, Latvia

In December 2018, the Bank of Latvia purchased EUR 18.552 worth of securities.

The Bank of Latvia purchased EUR 80.475 mln worth of securities in January last year, EUR 82.456 mln in February, EUR 6.45 mln in March, EUR 77.432 mln in April, EUR 84.792 mln in May, EUR 94.784 mln in June, EUR 40.927 mln in July, EUR 105.063 mln in August, EUR 59.864 mln in September, EUR 41.678 mln in October and EUR 10.623 mln in November.

The total amount of securities purchased by the Bank of Latvia under the ECB program in 2018 was EUR 703.1 mln, while EUR 2.363 bn worth of securities were bought up in 2017, EUR 2.549 mln worth of securities were purchased in 2016 and EUR 1.808 bn worth of securities were acquired in 2015.

As reported, the securities purchase program was launched in March 2015 pursuing the Eurosystem's (comprising the ECB and national central banks of the euro area) objective of keeping medium-term inflation rates below, but close to, 2 percent. The expanded assets purchase program now comprises four programs: the PSPP, the CBPP3 (the covered bond purchase program), the ABSPP (the asset-backed securities purchase program) and the latest addition - the CSPP (the corporate sector purchase program).

From October 2018 to the end of 2018 the monthly pace of the net asset purchases was reduced to EUR 15 bn. The securities purchases were discontinued as of this year.