ECB accelerates end of QE programmes

New forward guidance hints rate rise will not immediately follow end of asset purchases

ECB President Christine Lagarde February 2022
Christine Lagarde

The European Central Bank’s governing council accelerated the end of its net asset purchases at its monetary policy meeting today (March 10). The ECB’s governing council also modified its forward guidance, apparently hinting at a longer pause than previously anticipated between ending QE and raising rates. It no longer says it expects net asset purchases to end shortly before it starts increasing interest rates. Now it says any change to interest rates will take place “some time after the end”

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