ECB studies how officials' words affect sovereign debt

07/12/2013 | Bloomberg

The European Central Bank has released a paper that delves into how comments by authorities affect sovereign-debt yields. "Unconstructive and inconsistent communications can have real and tangible effects on countries, their financing conditions and by extension on their populations, as well as on the cohesion of the euro area," according to the paper by ECB economists Marion Salines and Gabriel Glockler, the German Bundesbank's Steffen Strodthoff and the Danish central bank's Thomas Gade.

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