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de Cos crossing the wires

ECB
  • Comments from a Bank of Spain Governor de Cos interview in Expansion that was published overnight have recently been hitting the wires. He has been talking about financial stability and echoing comments made by other ECB members over the past fe4w days that the ECB has the tools to ensure liquidity in the system.
  • In terms of monetary policy, the key quote is regarding the 3.25% terminal rate priced in by markets which he said "We are not in a position to validate this market expectation at this time."

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