The officials of European Central Bank The ECB wants the new instrument to be used to fight “fragmentation” to be ready by the Governing Council meeting in July, Bloomberg reported on Thursday, citing sources familiar with the matter.
According to the new tool anti-crisisthe ECB is said to offset the bond purchase by selling other assets, and officials are reportedly concerned that market stress could hamper monetary policy.
The ECB spoke about this new instrument at the emergency meeting held on Wednesday, June 15, where it promised to act flexibly in the process of reinvesting maturities for purchases of the emerging market program due to the pandemic.
EUR/USD is trading slightly lower on Thursday around 1.0410/20, still close to this year’s lows.
Source: Fx Street
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