Nagel: ECB tools target inflation, not bond spreads
ECB policymaker Joachim Nagel stated that the European Central Bank's tools, including the Transmission Protection Instrument, are designed to achieve its inflation goal, rather than targeting specific bond-spread levels.
ECB policymaker Joachim Nagel said on Thursday that the European Central Bank's tools, including its bond-buying Transmission Protection Instrument, are intended to meet its inflation objective and are not meant to target specific bond-spread levels.