The European Central Bank (ECB) announced that it is ending net asset purchases through its extraordinary pandemic asset purchase programme (PEPP) next March, but decided to extend reinvestments from redemption of securities maturing until the end of 2024 (extending the original decision by one year) in response to uncertainty in markets due to coronavirus in the shadow of the Omicron variant.
At the same time, in a statement following yesterday's Governing Council meeting, the ECB stressed that the future roll-off of the PEPP portfolio would be calibrated to avoid interference with the appropriate stance of monetary policy, while "net purchases under the PEPP could be restarted, if necessary, to address adverse disturbances related to
(CNA)
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