The ECB account? It also arrives at auction: BTp placed at top rates for 2 years

The bill to pay after the European Central Bank’s change in its monetary policy last week also arrives for the Treasury. As expected, the prospect of a more restrictive, albeit not immediate, stance on Eurotower rates and asset buyback plans was reflected in a a significant increase in the cost of issuing Italian bonds. Friday 11 February, in the first real medium-long term auction that followed last year’s board meeting …