ECB-mötets resultat underkändes av marknaden
De sade än en gång att de skulle göra en plan.
The European Central Bank instructed committees to create a new tool
to combat unwarranted jumps in euro-area bond yields as markets strain
at the prospect of the first interest-rate increases in more than a decade.
Analysts and markets were hoping for something more substantial from a surprise meeting on Wednesday.
In a statement, the ECB said it would use authority under an existing program to help tighten widening spreads among periphery countries such as Italy and Spain.
It plans to “apply flexibility” in reinvesting redemptions from its Pandemic Emergency Purchase Programme portfolio “with a view to preserving the functioning of the monetary policy transmission mechanism.”
The central bank also said it would “accelerate” the development of a new anti-fragmentation instrument.
MarketWatch 15 juni 2022
“That’s what markets needed to hear, finally!,” Frederik Ducrozet, head of macroeconomic research at Pictet Wealth Management in Geneva wrote on Twitter.
“Details will matter a lot, but now I can’t see how they could not deliver by the next [policy] meeting” on July 20-21.
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