ECB ‘Very Open’ to Stepping In If Markets Overreact, Wunsch Says
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The European Central Bank’s Governing Council is ready to step in if it considers moves in government bond markets to be unjustified, according to Belgium’s Pierre Wunsch.
“Most of us -- probably all of us, actually -- are very open to doing something if it’s clear enough that there’s a problem of markets overreacting or unwarranted fragmentation,” Wunsch said in emailed comments Tuesday afternoon and confirmed Wednesday as the ECB prepared for an emergency meeting on recent euro-zone bond turbulence.