Jens Weidmann, member of the Governing Council of the European Central Bank (ECB) and president of the Bundesbank, said on Monday that it would like to discuss the conditions under which the emergency situation ends from a point of view of the monetary policy that is being applied, as reported by Reuters. “The preconditions for ending PEPP (Pandemic Emergency Purchasing Program) net purchases are that all major restrictions are lifted, the recovery is solid,” added the German.
The official said they cannot determine the exit from the crisis mode of monetary policy well in advance. He indicated that the net purchases of the PEPP could be reduced step by step in advance.
Regarding next year, Weidmann stated that it would not be a crisis year if the assumptions about the pandemic were confirmed.
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