European Central Bank (ECB) Vice President Luis de Guindos voices his concerns over the fragmentations risk.
Fragmentation is a significant worry for the European central bank.
ECB has always been committed to fighting fragmentation in eurozone.
ECB is speeding up process to ready a tool against fragmentation.
ECB’s tool to avoid fragmentation does not have to interfere with monetary policy that is focused on fighting inflation.
ECB’s governing council has still not discussed details of the anti-fragmentation tool yet.
New tool should be somewhat different to previous OMT tool, as circumstances are not the same.
Anti-fragmentation tool will be different to PEPP, APP or OMT programmes.
EUR/USD is accelerating its decline below 1.0500 amid a negative open on the European stocks while the US dollar rallies hard on risk-off flows.
The spot is down 0.43% on the day at 1.0477, as of writing.
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