Pepp pace increase still to come

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By Lewis McLellan
09 Apr 2021

It is almost a month since the ECB promised to “significantly increase” the pace of its purchases under the Pandemic Emergency Purchase Programme. So far, the purchase data reveals little in the way of acceleration, but the head of the Italian treasury Davide Iacovoni says it’s on the way.

After two weeks of higher buying, the pace of net purchases halved last week, although the Easter holidays and end of quarter likely contributed to this. However, some ECB watchers said that they were concerned that the much discussed “significant increase” would be smaller than hoped.

These fears ...

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