"At this stage, an excessive tightening in yields would be inconsistent with fighting the pandemic shock to the inflation path," he told Expansión in an interview.
FRANKFURT: The European Central Bank is monitoring the recent surge in government bond borrowing costs but will not engage in controlling the yield curve, ECB chief economist Philip Lane told a Spanish newspaper.
"At this stage, an excessive tightening in yields would be inconsistent with fighting the pandemic shock to the inflation path," he told Expansión in an interview.
"But at the same time, it is crystal clear that we are not engaged in yield curve control, in the sense that we want to keep a particular yield constant," he added.
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