While the rise in bond yields tense the markets, the European Central Bank (ECB) is spreading reassuring little phrases. Last week, it was one of its economists, Isabel Schnabel, who said the institution might have to increase its support if the upturn hit economic growth.
At about the same time, a member of the ECB’s executive board, Fabio Panetta, spoke as much on the form as on the substance of his message, explicit reference to a track by Daft Punk: Harder, better, faster, stronger. “Harder (Stronger) will be our efforts to close the production and inflation gaps, the better (best) will be the outlook for the euro area economy. Faster (faster) we will be there, stronger (stronger) will be our growth potential ”, he explained during a virtual conference organized by Bocconi University in Milan. What analysts have directly interpreted as the desire to do more to support the economy.