ECB discusses ‘opening Pandora’s box’ with PEPP review

By Lewis McLellan
21 Sep 2020

The European Central Bank (ECB) could be considering merging the Pandemic Emergency Purchase Programme (PEPP) and its longstanding Asset Purchase Programme (APP). If it does, this would amount to the bank discarding its self-imposed limits on quantitative easing.

In the last week, two news sources published stories citing unnamed sources on the ECB’s governing council claiming that the PEPP was under review. Analysts told GlobalCapital that the news was credible. “The ECB is giving hints on its future direction in order to gauge market reaction,” said one euro rates ...

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