Lagarde: The ECB will rely on the emergency QE for additional stimulus

A new impetus to the bond market was given today, Wednesday, by the statements of the President of the European Central Bank, Christine Lagarde, who announced a new package of interventions in the secondary market, which is to be announced next month. The head of the ECB said that the European Central Bank will focus on more emergency bond markets and cheap loans to banks when it announces the new stimulus package next month to help the pandemic-hit eurozone economy. As he characteristically stated, outlining the outline of the new package, “all options are under consideration, but we must recognize that the PERP bond purchase program, as well as the provision of cheap liquidity to banks (TLTRO) have proved effective in this environment and in any case we can adjust it in order to respond The bond yields fell .After the above statements, the yields of almost all eurozone bonds moved down. Indicatively, the yield on the 10-year Greek government bond fell to 0.81% and the 5-year bond to 0.0215%. In the Electronic Trading System of the Bank of Greece (HDAT) transactions of 247 million euros were recorded, of which 105 million euros related to purchase orders. The yield of the 10-year benchmark bond was 0.84% ​​against -0.51% of corresponding to German, resulting in a margin of 1.35%. In the foreign exchange market, the euro is falling against the dollar, with the result that the European currency traded early in the afternoon at $ 1.1768 from the level of $ 1.808 opened by the market. The indicative euro / dollar exchange rate announced by the ECB formed at $ 1,1766 Source: ΑΠΕ-ΜΠΕ Follow it on Google News and be the first to know all the news See all the latest News from Greece and the World, at

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *