Euro zone 社債 markets look to ECB's Lagarde for 刺激 手がかり（を与える）s
By Dhara Ranasinghe
LONDON, Sept 10 (Reuters) - Germany's （判断の）基準 10-year 社債 産する／生じるs 辛勝する／優位d up on Thursday as the European Central Bank left its 政策 不変の and the 焦点（を合わせる） turned to whether Christine Lagarde will 始める，決める the 行う／開催する／段階 for その上の 刺激 at the ECB news 会議／協議会.
Having 行為／法令／行動するd 積極性 in 最近の months to 保護する the economy from the coronavirus shock, the ECB was not 推定する／予想するd to take any major 政策 活動／戦闘.
But インフレーション has turned 消極的な and a strong euro, which 追加するs to downward 圧力 on prices, has raised 関心 about long-称する，呼ぶ／期間／用語 price growth that could 軍隊 the ECB to 行為／法令／行動する again soon.
The euro has 会社／堅いd 8% against the dollar since the spring and more than 4% against a basket of 通貨s 負わせるd by the 圏's foreign 貿易（する）.
Against this 背景, market attention turned to Lagarde's 圧力（をかける） 会議／協議会 at 1230 GMT.
"I don't think the move in the euro has been 十分に big to be a real 関心 but it's just against the 背景 of everything else that is happening that means it's not 特に welcome news," said Anatoli Annenkov, 上級の European 経済学者 at Societe Generale.
He 推定する／予想するs the ECB's 緊急 社債 buying programme to be 延長するd and 拡大するd by a その上の 500 billion euros in October or December.
Germany's 10-year 社債 産する／生じる was last up 2 basis points on the day at -0.44%, little changed from levels 貿易（する）d just before the ECB 声明. It held above two-week lows 攻撃する，衝突する the previous 開会／開廷／会期 around -0.51%.
In contrast, 10-year 社債s 産する／生じるs in southern Europe were 1-2 bps lower on the day .
The closely watched Italian/German 10-year 社債 産する／生じる gap hovered at 151 bps -- almost 20 bps tighter than where it 貿易（する）d at the time of the ECB's July 会合.
The ECB's growth and インフレーション 発射／推定s to be published later in the day will only show slight changes compared with the bank's June 予測（する）s, Bloomberg 報告（する）／憶測d on Wednesday.
Brian Coulton, 長，指導者 経済学者 at Fitch Ratings said that 積極的な ECB 政策 活動／戦闘 had helped 上げる インフレーション 期待s and that デフレ in the 選び出す／独身-通貨 圏 should be 避けるd.
"While we don't think they (the ECB) will 攻撃する，衝突する their 的, we do think they will manage to 避ける 完全な デフレ," he told an online 会議／協議会 on Wednesday.
The ECB has undershot its 近づく 2% インフレーション 的 for the past seven years.
どこかよそで, the three-month Euribor 率 辛勝する／優位d up from a 記録，記録的な／記録する low of -0.493% 攻撃する，衝突する on Wednesday.
(報告（する）／憶測ing by Dhara Ranasinghe; Editing by Toby Chopra)
