Comments by ECB president, Christine Lagarde

  • ECB won't be guided by short-term economic moves
  • ECB will adjust PEPP as needed depending on financing conditions
  • To reassess pace of PEPP purchases in due course at a quarterly pace

Lagarde is laying down the gauntlet to those doubting the ECB's resolve in stepping up its PEPP commitment and trying to pin down the recent rise in bond yields. This is going to be another one to add to the list after the "we are not here to close the spreads" comment: