(ANSA) – ROME, DECEMBER 16 – The ECB will end debt purchases through the pandemic emergency program (Pepp) at the end of March. This was announced by the central bank, after the board of directors in which it decided to leave rates unchanged, specifying that it will conduct purchases in the first quarter “at a lower rate than in the previous quarter”.
However, the ECB assures that it will be able to resume debt purchases through the pandemic emergency program (Pepp) “if necessary to face negative shocks deriving from the pandemic”.
In any case, once the Pepp pandemic program has ended at the end of March, the ECB will buy debt “at a monthly rate of 40 billion in the second quarter of 2022 and 30 billion in the third” through the pre-existing App program, which currently reaches 20 billion. per month. From October 2022, the Governing Council will return to net monthly purchases of 20 billion euros “for as long as necessary to reinforce the accommodative impact of rates” and these purchases will end “shortly before the ECB begins to raise interest rates” . (HANDLE).
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Source From: Ansa
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