ECB reinvestment policy tweaks aim to be broadly market-neutral - Reuters

Reuters recently reported that the ECB's reinvestment policy tweaks, including the shift to the new capital key, was aimed to be broadly 'market-neutral.'

Key quotes

• ECB weighing three options on how new capital key is applied to the stock of bonds.
• ECB shift to new capital key with regard to flow of reinvestments could be done over course of several years.
• ECB comfortable with market expectations that reinvestments will go on for 2 to 3 years.  
• ECB policymakers leaning towards only nuanced tweaks in reinvestment policy, including open-ended time horizon.