The legislator of the European Central Bank (ECB), Yannis Stournaras, said on Friday that the ECB should accelerate purchases within the Pandemic Emergency Purchasing Program (PEPP), as reported Reuters.
“There is no fundamental justification for a tightening of long-term nominal bond yields.”
“The governing council should instruct the board at the March 11 meeting to fight the unjustified tightening of financing conditions.”
“There is currently an unwarranted tightening of bond yields.”
The shared currency remains under heavy downward pressure following these comments. At the time of writing, the pair EUR/USD it was down 0.62% on the day to 1.2101.