Members of the European Central Bank (ECB) governing council "widely" felt they should "look through recent market volatility" when setting monetary policy last month, according to minutes from the June 2–3 meeting.

At the meeting the council discussed the recent volatility in financial markets, characterised chiefly by a rise in eurozone government bond yields, and concluded there were three main factors behind it: a more positive economic outlook among market participants, a pick-up in