Economics

ECB Ramps Up Bond-Buying Speed to Contain Rising Bond Yields

  • Governing Council adds frontloading pledge to policy statement
  • Lagarde wants to avoid “undesirable” shift in bond yields
ECB's Lagarde: PEPP Buying 'Significantly Faster' in Next Quarter
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The European Central Bank pledged to ramp up buying government debt in coming months in a bid to a contain rising bond yields that threaten to derail the region’s economic recovery.

Policy makers expect purchases in the next quarter “to be conducted at a significantly higher pace than during the first months of this year,” according to a statement on Thursday. They kept the overall size of the 1.85 trillion-euro ($2.2 trillion) pandemic bond-buying program unchanged.