The European Central Bank should consider keeping some of the flexibility of its emergency bond-buying program when it transitions to other asset purchases after the Covid crisis, Governing Council member Pablo Hernandez de Cos said. “The main lesson to be drawn” from the program is that the power to skew purchases toward parts of the economy that need it most “has notably increased not only the effectiveness but also the efficiency” of it, the Bank of Spain Governor said Tuesday in a written response to questions from Bloomberg. “It would therefore be desirable to discuss the possibility of our future purchase ... (full story)