The European Central Bank (ECB) decided to leave key rates unchanged and expanded the Pandemic Emergency Purchase Program (PEPP) by € 500 billion to a total of € 1.85 billion until the end of March 2022. Christine Lagarde, President of the ECB, he now delivers his comments on the prospects for monetary policy at a press conference.
Key takeaways
“The euro zone economy is expected to contract in the fourth quarter.”
“Activity in the service sector is severely slowed down.”
“Inflation is still very low.”
“Incoming data suggests a more pronounced short-term impact from the pandemic.”
“The PEPP terms may not be fully utilized.”
“The PEP conditions can be recalibrated if necessary.”
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