ECB's Lagarde: Markets have understood aim of bond buy ramp-up

© Reuters. FILE PHOTO: ECB President Lagarde attends a plenary session at the European Parliament in Brussels

FRANKFURT (Reuters) – Euro-zone bond investors have appeared to understand the European Central Bank’s goal in ramping up bond purchases last month, ECB President Christine Lagarde told CNBC on Friday.

“Our action has been efficient… (and) markets have understood what we want to do and how we want to preserve favourable financing conditions,” she said.

Lagarde’s comments are among the clearest indications yet that the ECB is content with the recent retreat in inflation-adjusted yields and echoes statements from several Governing Council members this week who argued that current financing conditions are appropriate.

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