ECB to halt PEPP purchases but expand APP
Lagarde says rising inflation will be temporary, but says ECB needs flexible monetary policy
The European Central Bank’s governing council said it will stop its net purchases under one emergency programme, but will increase the size and flexibility of another.
The ECB’s governing council announced an end to net purchases under the Pandemic Emergency Purchasing Programme (PEPP) today (December 16). But it unveiled significant changes to the Asset Purchase Programme (APP), while ruling out any immediate tightening of monetary policy.
The ECB said in a statement that “in view of the
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