Amid fears of a spurt in international commodity prices expressed by experts due to the European Central Bank’s plan to buy sovereign bonds, a Finance Ministry official, on Friday, said the move was not going to have “much impact” on India in the immediate run.

“There is not going to be much impact as of now. But we have to see how we are able to handle our own problems,” Economic Affairs Secretary Arvind Mayaram told reporters on sidelines of an event here.

The ECB, on Thursday, announced a programme that allows it to execute potentially unlimited sovereign bond-buying, a bid to save the region’s currency.

Meanwhile, PHDCCI President Sandip Somany said the massive bond buying programme announced by the ECB could trigger a rise in international commodity prices and stoke inflation in supply constrained economies such as India.


ECB says it will buy unlimited sovereign bonds September 7, 2012

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