ECB will not modify its capital key, reports say

The European Central Bank was not considering increasing bond purchases of euro area member countries beyond each one´s share of the monetary authority´s own capital, the so-called 'capital key', Reuters reported.

Sources familiar with the ECB´s thinking told the newswire that the monetary authority would consider other options before opting for a path on policy that would heavy political ramifications, in Germany abive all.

One such alternative would be to increase the cap on how much the central bank can buy of each bond issue that isn´t protected by so-called 'collective action clauses', the sources said.