Coeure Says ECB Will Take Existing Maturities as Guide for QE
European Central Bank Executive Board member Benoit Coeure said, “Forward guidance is not a shift in our strategy. It’s a way to clarify our communication and provide more stability to financial markets. The mandate of the ECB is the same: it’s intact, it’s a price-stability mandate.”
SeongJoon Cho/BloombergEuropean Central Bank Executive Board member Benoit Coeure said bond purchases under the bank’s quantitative-easing program will aim to match the existing maturity profile of the market.
“In terms of the maturity allocation within a given sovereign bond universe, it will be broadly based on market outstandings,” Coeure told reporters at an event in Budapest on Monday. “There is very little leeway for discussion or readjustment,” and “we want to create as little market distortion as possible,” he said.