ECB relieves onlookers with promise of more stimulus

By Lewis McLellan
29 Oct 2020

European Central Bank president Christine Lagarde was firm enough in her promises of monetary policy support to avoid disappointing investors at a press conference on Thursday.

Investors greeted the move with relief, flocking back into eurozone bank stocks and periphery government bonds. Italy’s 10 year yield fell by 8bp in the aftermath of the meeting. Spain’s fell from 19bp to 13bp.

“We’ve had a softer backdrop lately because the worsening situation with Covid-19 has ...

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