Isabel Schnabel, a member of the Executive Board of the European Central Bank (ECB), advised against reading too much about weekly purchases under the Pandemic Emergency Purchasing Program (PEPP), according to Reuters.
“An extrapolation of weekly data to general monthly data can lead to misleading conclusions“Schnabel added.
Hours earlier, weekly data released by the ECB showed that the bank bought net assets worth € 19.303 billion last week as part of its quantitative easing program, compared to € 17.068 billion the previous week.
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