Yield curve control not ECB’s ‘easiest way forward’ – Centeno

Mário Centeno
Mário Centeno
Photo: European Parliament

Adopting a formal yield curve control mechanism “will not be the easiest way forward” for the European Central Bank, Portuguese central bank governor Mário Centeno has said.

In a recent interview with Central Banking, Centeno praised the the ECB’s Pandemic Emergency Purchase Programme for reducing sovereign bond yields. 

The PEPP has allowed eurozone peripheral economies with limited fiscal space such as Italy, Spain or Portugal to finance higher debt issuance at low rates. This has helped

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