Escrivá Warns of Long-Term Rate Risks Despite Dovish Stance

ECB's Escrivá said that the European Central Bank (ECB) is still not in a restrictive territory, according to Reuters.

Escrivá flagged long-term rate risks but stopped short of calling policy restrictive. FXS Speechtracker scored Escrivá at 6.2/10, slightly above the historic 6/10 baseline, pointing to a modestly more cautious tone.

The ECB's focus on the global upward trajectory of long-term rates and the pressure this can add to interest rates introduced a clear warning signal for bond markets.