When the ECB goes into an ad hoc meeting less than a week after its last official rate-setting meeting, we know it must be an emergency. The widening in bond spreads but also the increase in funding costs has made monetary policy in the eurozone significantly more restrictive, even before the very first rate lift-off. .
Rather than invent a radical new instrument to ease bond market strains across the euro bloc, investors reckon the European Central Bank might get away with cobbling together the best parts of schemes already contained in its policy toolkit. The ECB on Wednesday promised fresh support and the design of a potential new scheme to .
The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.