The European Central Bank (ECB) has recently published additional details about its new anti-fragmentation tool titled “Transmission Protection Instrument (TPI)”.
Featured Statements
“TPI purchases would focus on public sector securities.”
“Purchases under the TPI would be carried out in such a way as not to cause a persistent impact on the Eurosystem’s balance sheet and thus on the monetary policy stance.”
“Purchases under the TPI have a residual maturity of between one and ten years.”
“Private sector purchases of securities could be considered.”
“Purchases would end either on a lasting improvement in transmission, or based on an assessment that lingering tensions are due to the country’s fundamentals.”
“TPI Conditions: Sound and Sustainable Macroeconomic Policies”.
market reaction
The EUR/USD pair is struggling to gain traction and was last seen trading flat on the day near 1.0180.
Source: Fx Street
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