MARKET WRAP: ECB’s pledge on borrowing costs settles nerves
Bank commits to reducing the effect of interest rates rising variably among member countries
The JSE tracked firmer US and European markets on Wednesday after the European Central Bank (ECB) undertook to tackle surging borrowing costs in weaker eurozone economies.
The ECB held an emergency meeting on Wednesday at which it committed to greater flexibility in reinvesting redemptions coming due in its pandemic emergency purchase programme and accelerate work on a “new antifragmentation instrument”, according to the Financial Times. ..