Klaus Knott also called for shrinking the central bank’s bond portfolio
The negative climate in the bond markets remains as the new increase in interest rates by the ECB approaches. The member of the board of the ECB Klaas Knot stated today that the European Central Bank it needs at least two major rate hikes before it reaches the neutral level. At the same time, he also called for a shrinking of the central bank’s bond portfolio.
“We need at least two more significant hikes before we enter the range of reasonable estimates for neutral,” Knot, the governor of the Dutch central bank, said on his television Bloomberg.
In HDAT, transactions of 90 million euros were recorded, of which 26 million euros related to purchase orders. The yield on the 10-year bond stood at 5.02% from 5.06% yesterday versus 2.30% for the corresponding German bond, bringing the spread to 2.72% from 2.76% that closed yesterday. In the foreign exchange market, the euro fell slightly against the dollar, with the European currency trading at $0.9696 in the early afternoon from $0.9699 when the market opened. The indicative price for the euro/dollar exchange rate announced by the ECB was 0.9706 dollars.
RES-EMP
Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.
I have worked in the news industry for over 10 years and have been an author at News Bulletin 247 for the past 5 years. I mostly cover technology news and enjoy writing about the latest gadgets and devices. I am also a huge fan of music and enjoy attending live concerts whenever possible.
