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Vast bond portfolios bought via quantitative easing under scrutiny
Returns confound expectations that ECB monetary tightening would hurt more fragile eurozone members
Overall borrowing costs for eurozone governments have risen sharply in the past year
Eurozone central bank risks losses in the coming years as it unwinds quantitative easing policies
Full facts on the legacy of QE need to be disclosed to maintain public confidence
FT poll points to Rome as EU economy most at risk from higher borrowing costs
Analysts caution investors against complacency, with withdrawal of central bank purchases set to push up governments’ borrowing costs
As rates rise, about €70bn of interest on the deposits of commercial banks will need to be paid next year
Subtle shift in Christine Lagarde’s messaging prompts investors to rein in bets on future rate rises
The eurozone’s central bankers will begin discussions this week, as well as raising rate by a likely 75 basis points
Central bank policymakers agree on opening negotiations to tackle eurozone’s €5tn bond portfolio
Policymakers hope new programme will give central bank cover to raise rates without triggering market turmoil
Half percentage point increase comes as borrowing costs rise amid political turmoil in Rome
History shows diverging sovereign bond yields have high economic and political costs
The next step in the European monetary and political experiment has to be more radical than the last
Spread between German and Italian bond yields has raced higher this week
Council members likely to commit to counter any turmoil triggered by higher rates
Borrowers including Italy face ‘double whammy’ of higher funding costs and slowing growth
Abrupt slowdown in stimulus programme could knock Italian and Greek bonds, investors say
Forecasters polled by FT foresee extended period of purchases in contrast to other central banks
In an almost simultaneous change of heart, policymakers are moving to raise rates and ditch crisis support
Central bank will boost other bond-buying scheme next year to avoid ‘brutal transition’
The ECB has sounded more dovish than most central banks. But rising prices and Covid are putting it under growing pressure
End of pandemic emergency purchases risks leaving Greek junk bonds without European support
Benefits of central bank’s bond buying programme are ‘fading’, while it may cause ‘excessive risk taking’
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