ECB Risks Chasing Own Tail on Bond Buying With Deposit-Rate Cut

Updated on
  • Yields on $453 billion of eligible bonds already below -0.3%
  • German 5-year yield fell below current deposit rate on Friday

Worrying About the Unknowns in ECB's Next Move

The European Central Bank risks staying one step behind the market, even if it lowers its deposit rate next week.

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