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Policymakers hope new programme will give central bank cover to raise rates without triggering market turmoil
Half percentage point increase comes as borrowing costs rise amid political turmoil in Rome
History shows diverging sovereign bond yields have high economic and political costs
The next step in the European monetary and political experiment has to be more radical than the last
Spread between German and Italian bond yields has raced higher this week
Council members likely to commit to counter any turmoil triggered by higher rates
Borrowers including Italy face ‘double whammy’ of higher funding costs and slowing growth
Abrupt slowdown in stimulus programme could knock Italian and Greek bonds, investors say
Forecasters polled by FT foresee extended period of purchases in contrast to other central banks
In an almost simultaneous change of heart, policymakers are moving to raise rates and ditch crisis support
Central bank will boost other bond-buying scheme next year to avoid ‘brutal transition’
The ECB has sounded more dovish than most central banks. But rising prices and Covid are putting it under growing pressure
End of pandemic emergency purchases risks leaving Greek junk bonds without European support
Benefits of central bank’s bond buying programme are ‘fading’, while it may cause ‘excessive risk taking’
Debate inside central bank reflects questions over new variant’s impact on inflation
Euro knocked by ECB president’s dovish comments on need to avoid ‘premature tightening’ of monetary policy
Christian Sewing says ultra-loose interest rate policy ‘has lost its effect’
As other central banks tighten, ECB concludes surge in inflation is temporary after ‘soul-searching’
Head of Germany’s central bank was a vocal and often lonely critic of the ECB’s ultra-loose monetary policy
Central bank examines ways to retain flexibility in bond markets afforded by pandemic relief scheme
But Lagarde insists ‘the lady isn’t tapering’ and warns eurozone is ‘not out of the woods’
Central bank is pulling back but needs to convince markets its asset purchase programme will not end too soon
Outlook is still unclear but justification for emergency support is weakening
Monetary policy hawks fear rising inflation while doves seek to maintain stimulus
Central bank expected to hint at lighter support for bond market but with big safety nets
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