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1/23, 7:45 PM (Source: TeleTrader)
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ECB's Rehn: Yield curve control not sensible tool

Member of the European Central Bank (ECB) Governing Council Olli Rehn (pictured) stated on Saturday yield curve control was a "not sensible" tool to improving financial conditions in the Eurozone amid the crisis caused by the coronavirus pandemic as the area has at least 19 different yield curves.

Rehn said the ECB had decided to examine "how to define favorable financing conditions" and how to allow them to improve given the ongoing situation. He added the bank needed to learn how to maintain those conditions to allow "lending to households and companies to function well."

Rehn's remarks come shortly after ECB President Christine Lagarde's assertion the governments' bond yields did not impact the assessment of financial conditions.

Breaking the News / JR