The ECB will take action against a disorderly rise in financing costs of more indebted eurozone countries, according to Central Bank Director Isabel Schnabel. Monetary policy can and should react to the disorderly reassessment of risks that affect Central Bank actions and threaten price stability, Schnabel said on Tuesday at Panthéon-Sorbonne University in Paris. “There can be no doubt that, if and when needed, we can and will design and deploy new instruments to secure monetary policy transmission and hence our primary mandate of price stability,” she said. Schnabel is responsible for the implementation of monetary policy at the European Central Bank (ECB).
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