It has been announced that the Governing Council of the European Central Bank will hold an unscheduled meeting today.
The European Central Bank (ECB) Governing Council decided to hold an extraordinary meeting after the developments in the bond market. The spokesperson of the European Central Bank said that the council will have an unplanned meeting today, and the current market conditions will be discussed at the meeting.
The difference in yields between the 10-year bonds of Germany and the highly indebted southern European countries caused concern. The recent sell-off in bonds indicated that investors were not convinced that the ECB could raise interest rates while keeping bond yields in check in the most fragile European countries. After the decision, recovery was seen in the euro and Italian bonds.