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March 18, 2020 "The ECB will continue to closely monitor the consequences for the economy of the spread of coronavirus and is ready to adjust its measures, if appropriate, if this should safeguard the liquidity conditions in the banking system and to ensure a transmission fluid of its monetary policy to all jurisdictions ", reads a statement from the European Central Bank.

Speeches from Thursday
The ECB has indeed been intervening decisively on the markets since last Thursday, says Isabel Schnabel, a member of the Governing Council of the Central Bank in an interview with the German newspaper Die Zeit published today on the institutional website of the institute.

"We see a significant increase in risk premia - explains Schnabel - also the question arises whether the markets still function, if supply and demand can still meet? The central bank should intervene if liquidity runs dry, that is, if the markets cease suddenly to function because there are not enough liquid funds and if the transmission of monetary policy is at risk because our measures in this case will not reach the real economy. And that's exactly what we have been doing intensively since last Thursday. bonds have a stabilizing effect on the market ".

In Italy through Bankitalia
The European System of Central Banks is intervening through the Bank of Italy "to ensure orderly conditions on the market". It is learned from monetary sources. The interventions, explain the same sources, "are flexible both in timing and in the reference markets and will continue as long as needed".

Indications come in the morning when the spread between the BTp and the Bund has shot up above 320 points, the highest since 7 years.