The term "asset purchase program" refers to a central bank's strategy of buying financial assets, such as government bonds or corporate debt, in order to stimulate economic growth and stabilize markets. This is typically done by creating new money electronically and using it to purchase the desired assets from commercial banks. The goal of this program is to increase the money supply, lower interest rates, and encourage borrowing and spending, which can help boost business activity and consumer demand. By purchasing a wide range of financial assets, central banks aim to support economic recovery and prevent deflation or other negative economic outcomes.