Investors put ECB commitment to the test

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Investors put ECB commitment to the test

lagarde
11 September 2020, Berlin: The President of the European Central Bank (ECB), Christine Lagarde, will attend a press conference during the Informal Meeting of Economic and Finance Ministers. Photo: Hannibal Hanschke/REUTERS/POOL/dpa | Hannibal Hanschke/DPA/PA Images

European Central Bank president Christine Lagarde refused to be drawn into naming a specific spread target that the central bank will defend in a press conference on Thursday but investors may find out for themselves in the wake of the meeting. BTPs sold off sharply after Lagarde spoke, perhaps indicating that the central bank has not done enough to convince investors of its support.

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