Markets last week seized on hints from the ECB that it may restart its bond purchase programme in an attempt to contain Spanish bond yields. But there are clear doubts over whether the ECB has the conviction or the ammunition to prevent yields from rising further. President Draghi has generally shown even less enthusiasm for the programme than his predecessor and the ECB’s bond purchases have been nowhere near the scale of those made by the Bank of England and the US Federal Reserve.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services