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Euro zone yield rise not dramatic: ECB's Kazimir

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·1-min read
Slovakia's Finance Minister Peter Kazimir attends the Asian Financial Forum in Hong Kong
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FRANKFURT (Reuters) - Euro zone yields are rising from exceptionally low levels and the increase so far has not been dramatic, European Central Bank policymaker Peter Kazimir said on Twitter on Tuesday.

"Yields are rising, but they're rising from very low levels," Kazimir tweeted, quoting from his interview with Bloomberg. "We're watching it, and we will continue watching it closely, but I personally don't see it as anything dramatic for now."

The ECB agreed last week to step up bond purchases to keep borrowing costs depressed after a steady rise in yields since the start of the year.

Kazimir added that Europe's joint fiscal reaction is lagging and needs to pick up pace to support the bloc's eventual recovery.

(Reporting by Balazs Koranyi, editing by Thomas Escritt)