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ECB Plans Steps at Emergency Meeting to Address Market Crisis

  • Measure was cited as option in ECB decision on Thursday
  • Italian bonds have surged after news of emergency meeting
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WATCH: The ECB’s emergency meeting is expected to focus on PEPP reinvestments. Maria Tadeo reports.Source: Bloomberg
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European Central Bank officials will be invited to sign off on the reinvestment of bond purchases conducted under the now-halted pandemic emergency program, a crisis response that they flagged in their decision last week, according to people familiar with the matter. 

Policy makers are holding an emergency meeting starting at 11 a.m. in Frankfurt that will last about two hours as they consider how to react to a surge in Italian bond yields using the measure, the people said. They declined to be identified because such discussions are confidential.