ECB will be flexible in reinvesting the PEPP program

Today the ECB announced an emergency meeting to discuss market conditions amid projections of tighter monetary policy and many investors hoped for concrete decisions from policymakers.

However statement did not provide any specific informations:

• The ECB informs that it will be flexible in deciding to reinvest maturing assets under the PEPP program
• The ECB is to prepare new anti-crisis tools for the debt market

The euro weakened after the release of the statement, Italian bond yields are rising. The ECB did not make any specific decisions on an important day for the financial markets.

Source: xStation5