The ECB invited bids for 49% stakes in each of ... the counties spend the money in a sustainable way: paying off debt, building reserves or investing in long-term projects.

Three policymakers who spoke to Reuters after the meeting said they saw a consensus for a further rate cut at the ECB's March 6 meeting, to take the rate the ECB pays on deposits to 2.5%.

With inflation on track to reach the 2% target in the coming months, officials are prepared to cut borrowing costs by a quarter-point next week, building ... that the ECB is on track to bring ...