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No limits in ECB’s fight against fragmentation -Schnabel


© Reuters. FILE PHOTO: A symphony of light consisting of bars, lines and circles in blue and yellow, the colours of the European Union, illuminates the south facade of the European Central Bank (ECB) headquarters in Frankfurt, Germany, December 30, 2021. REUTERS/W

FRANKFURT (Reuters) – The European Central Bank will fight any “disorderly” blowout in the borrowing costs of more indebted nations but its response should be tailor-made and there is no need to pre-announce any tool, ECB board member Isabel Schnabel said on Tuesday.

“There can be no doubt that, if and when needed, we can and will design and deploy new instruments to secure monetary policy transmission and hence our primary mandate of price stability,” Schnabel, the head of the ECB’s market operations, said in a speech in Paris.

“Our commitment to the euro is our anti-fragmentation tool. This commitment has no limits,” she said.

No limit in ECB’s fight against fragmentation: Schnabel

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