ECB adds new eligible issuers for QE

The ECB yesterday added state-owned infrastructure companies to the list of organisations whose assets are eligible for the public sector asset programme (PSPP), fuelling speculation that it is moving closer to outight purchases of corporate bonds. 

This addition focussed attention at a time when expectations are growing that the ECB would have to ramp up its asset purchases should the Greek crisis spread to the rest of Europe. The ECB said this list may be further amended on the basis of monetary policy considerations.