ECB holds a steady hand, no tapering yet

En bref

Tapering postponed: At today’s policy meeting the Governing Council decided to leave the policy stance unchanged. Most importantly, its stated that net PEPP purchases over the coming quarter will “continue to be conducted at a significantly higher pace than during the first months of the year”. This decision was taken based on a joint assessment of financing conditions and the inflation outlook.

Highlights:

  • At today’s meeting the Governing Council maintained its policy stance. Net PEPP purchases will “continue to be conducted at a significantly higher pace than during the first months of the year”.
  • The growth and inflation outlook improved and – unlike the previous meetings – risks were now assessed as “broadly balanced”.
  • While financing conditions were viewed as “broadly stable” the Governing Council sees risks stemming from higher yields.
  • Exchange rate movements remain on the ECB’s radar screen.
  • All in all, the ECB adopted a steady hand approach. Tapering was postponed and the current speed of purchases could be maintained until the PEPP regularly ends in March 2022.

Download the full publication below

ECB holds a steady hand, no tapering yet
PDF

Also interesting

Picture

© Generali Investments, tous droits réservés. Ce site internet est publié par Generali Investments et est considéré comme une communication marketing et une promotion financière liée aux produits et services des sociétés du groupe Generali suivantes : Generali Investments Partners S.p.A. Società di gestione del risparmio, Generali Insurance Asset Management S.p.A. Società di gestione del risparmio, Generali Investments Luxembourg S.A. et Generali Investments Holding S.p.A. (ci-après dénommées ensemble Generali Investments). En outre, le site peut contenir des communications de marketing et de promotion financière de produits et services de sociétés faisant partie de la plate-forme Multi-Boutiques coordonnée par Generali Investments Partners S.p.A. Società di gestione del risparmio, et en particulier de Generali Global Infrastructure, Sycomore Asset Management, Aperture Investors LLC, Plenisfer Investments SGR, Lumyna Investments et Generali Real Estate S.p.A. Società di Gestione del Risparmio.