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ECB "closely monitoring" rising sovereign yields: Lagarde

Kitco News

FRANKFURT, Feb 22 (Reuters) - The European Central Bank is “closely monitoring” nominal government bond yields, ECB chief Christine Lagarde said on Monday, a clear sign that policymakers are becoming uncomfortable with the recent surge in yields.

“Within the broad-based set of indicators that we monitor to assess whether financing conditions are still favourable, risk-free overnight indexed swap rates and sovereign yields are particularly important,” Lagarde said in a speech.

“Accordingly, the ECB is closely monitoring the evolution of longer-term nominal bond yields.”

Reporting by Balazs Koranyi; Editing by Kevin Liffey

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