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The European Central Bank (ECB) has begun buying millions of euros in government bonds from the most vulnerable countries in the eurozone, the Financial Times (FT) newspaper reported.

So the ECB wants to support states in a period of economic instability and higher interest rates. In June and July, the European Central Bank invested a total of €17 billion in the government bond market of Spain, Italy and Greece. The volume of government bonds of Germany, France and the Netherlands decreased by €18 billion due to the expiration of their maturity dates.

The ECB appears to be very active, reinvesting virtually all of its revenues from key countries in the periphery, said Frederik Ducrozet, head of macroeconomic analysis at Pictet Wealth Management.

At the end of July, the regulator's press service reported that the ECB's Governing Council decided to raise three key interest rates by 50 basis points. The base interest rate was increased for the first time since July 2011 to 0.5%, the rate on deposits - up to 0%, and the rate on short-term loans - up to 0.75%.

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