RTTNews - Friday, the European Central Bank President Jean-Claude Trichet said the ECB expects to engage in a programme of buying euro-denominated covered bonds worth EUR 60 billion.

We expect to engage in a programme of around EUR 60 billion that targets an important segment of the private securities market, Trichet said in Moroccan city of Marrakech.

Trichet emphasised that preserving price stability over the medium term remains the ECB's main objective despite taking several exceptional measures to combat the financial crisis.

Further, he said the global economic condition is still difficult and unpredictable environment.

For comments and feedback: contact editorial@rttnews.com