Lagarde says the PEPP was intended to be temporary and exceptional

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The president of the European Central Bank, Christine Lagarde, has added to her previous comments, saying that the Pandemic Purchase Emergency Program (PEPP) was intended to be temporary and exceptional. Lagarde has spoken in the Economic Commission of the European Parliament (by videoconference).

Additional comments:

By definition, the ECB will not go bankrupt or run out of money.

The ECB is very attentive to the TLTRO for supporting the economy.

The comments have done little to provide a significant boost to the common currency, leaving the EUR / USD pair at the mercy of USD price dynamics. At the time of writing, the pair remains near the lower end of its daily range, around the 1.1825 region.

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