ECB’s Lane: PEPP to continue as long as activity is disrupted
European Central Bank (ECB) Chief Economist Philip Lane said in an interview with Les Echos that the bank will continue with its pandemic emergency purchase program (PEPP) as long as economic activity is disrupted due to COVID-19.
“We won’t terminate the program until certain conditions have been met,” Lane stated in the interview published on Sunday. “First of all, the pandemic must no longer interrupt normal economic activity. We will also have to establish other conditions in terms of economic recovery and inflation dynamics, but it’s still too early to do this,” he added.
The central banker stressed it was initially planned for the PEPP to last until June but that it will continue “until the crisis phase is over.”
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