Home Finance Anti-fragmentation tool should not interfere with goal to fight inflation, ECB’s De Guindos says

Anti-fragmentation tool should not interfere with goal to fight inflation, ECB’s De Guindos says

by Enochadmin

Vice-President of the European Central Financial institution (ECB) Luis de Guindos offers an announcement in the course of the second day of the Casual Assembly of EU Ministers for Economics and Monetary Affairs in Berlin, Germany September 12, 2020. Odd Andersen/Pool by way of REUTERS

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MADRID, June 22 (Reuters) – The European Central Financial institution’s software to fight rising authorities debt yields in some euro zone international locations mustn’t intrude with the financial institution’s goal to regulate inflation, ECB Vice-President Luis de Guindos stated on Wednesday.

“Fragmentation devices mustn’t intrude with the general financial coverage strategy, which must be centered on combating inflation,” De Guindos advised a monetary occasion in Spain.

In an emergency assembly final week, the European Central Financial institution determined to direct bond reinvestment to assist nations on the bloc’s southern rim, and to plot a brand new instrument to comprise divergence in borrowing prices. learn extra

De Guindos stated that fragmentation was among the many important issues of the ECB and that it was dedicated to fight it although particulars had nonetheless not been mentioned on the financial institution’s governing council but.

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Reporting by Jesús Aguado and Emma Pinedo; enhancing by Francesco Canepa

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