The European Central Bank (ECB) does not touch rates but revises the pace of the pandemic emergency purchase program (Pepp). “Based on a joint assessment of financing conditions and inflation outlook, the Governing Council believes that favorable financing conditions can be maintained with a pace of net asset purchases under the Pandemic Emergency Purchase Program (pandemic emergency purchase program, PEPP) moderately lower than in the previous two quarters “, reports the ECB in the official statement.
The Governing Council also confirmed the other measures, namely the level of the reference interest rates of the ECB, the forward guidance on their probable future evolution, purchases under the asset purchase program (APP), reinvestment policies and longer-term refinancing operations.