ECB to hold unscheduled meeting to discuss market rout

The European Central Bank's rate-setting Governing Council will hold an unscheduled meeting on Wednesday to discuss the recent sell-off in government bond markets, a spokesperson said.

Bond yields have risen sharply since the ECB promised a series of rate hikes last Thursday and the spread between the yields of Germany and more indebted southern nations, particularly Italy, soared to its highest in over two years.

“The Governing Council will have an ad hoc meeting on Wednesday to discuss current market conditions,” an ECB spokesperson said.

Reuters