Economics

ECB Tool Has Name, But Arrival on July 21 Seems Uncertain

Transmission Protection Mechanism is working label for measure
Officials aren’t displaying certainty of July 21 announcement

European Central Bank President Mario Draghi Announces Rates Decision — Photographer: Krisztian Bocsi/Bloomberg

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By Jana Randow and Alessandra Migliaccio

July 7, 2022 at 10:55 AM UTC

Updated on

July 7, 2022 at 2:41 PM UTC

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European Central Bank policy makers have a working name for their new crisis tool but aren’t yet displaying certainty that it will be ready at their July 21 decision, according to people familiar with the matter.