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ECB agrees new crisis tool to ease bond market stress

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The European Central Bank unveils a new crisis-fighting tool to keep the borrowing costs of indebted eurozone governments like Italy under control as interest rates rise for the first time in a decade. Dubbed the "Transmission Protection Instrument (TPI)", the targeted bond-buying scheme "can be activated to counter unwarranted, disorderly market dynamics that pose a serious threat to the transmission of monetary policy across the euro area," says ECB President Christine Lagarde. SOUNDBITE by Christine Lagarde, President of the ECB

Added on the 21/07/2022 15:50:16 - Copyright : AFPTV - First images

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