Economics
ECB Resolved to Face Down Bond Stress Without Divulging Plan
- Officials are reluctant to specify tool to fight fragmentation
- Italy’s 10-year yield rises above 4% for first time since 2014
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European Central Bank officials are increasingly determined not to divulge its plans to fight bond-market stress, according to people familiar with the matter.
Officials from across the spectrum of the Governing Council are convinced that there are few benefits in preemptively revealing a specific crisis tool and fear it could spur investors to test any measure, the people said, asking not to be identified because the discussions are private.