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CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1305 THURS VS 7.1312

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MNI:AUSTRALIA MAY TRADE BALANCE A$+5773

US Treasury Auction Calendar

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Lagarde Sees Rates as Primary Inflation-Guiding Tool Over Balance Sheet Tools

ECB
Q: Have you discussed spread widening especially in Italy? Is the ECB comfortable with current levels? Are Greek bonds back to the ECBs normality? Are Greek bonds eligible for every purchase programme? Are you confident that the Greek economy can return to normality before the debt crisis?
  • A: We only have one active purchase programme that is operating (reinvestments under PEPP). Greece was eligible under PEPP. Greece is now back to the pre-Covid situation. Greece compares extremely well to other countries.
  • The best tools that we can use to return inflation to 2% is our interest rates. The fact that we are holding does not mean that we will never hike again. We are confident that rates are contributing substantially to bringing us back to 2% in a timely manner. But, we are data dependent.
  • In addition to our stance, we also have to make sure there is proper transmission of monetary policy across the euro area. We have all the tools to make sure that happens.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

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