Fed launches Treasury bill buys in bid for 'ample' reserves
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(Reuters) - The Federal Reserve said on Friday that it will start buying about $60 billion (47.4 billion pounds) per month in Treasury bills to ensure "ample reserves" in the banking system, but emphasized the new programme does not mark a change in monetary policy. The purchases, which will begin Oct. 15, respond to recent disruptions in short-term money markets that pushed the target federal funds rate to the top of its target range, and at least once above it. The "technical" programme, which..