Brussels
The European Central Bank (ECB) has said it will trim the pace of its asset purchases over the coming quarter as the bank takes a tentative step towards unwinding emergency economic aid that supported the economic zone during the pandemic.
The ECB said last week it would buy bonds under its €1.85 trillion Pandemic Emergency Purchase Programme (Pepp) at a pace moderately lower than the €80 billion ($94.6bn) a month it bought over the previous two quarters.
“Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council judges that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the Pepp than in the previous two quarters,” the central bank said. — TLTP
