“It is too early to assess the reduction of purchases under PEPP” Author Reuters

© Reuters.

April 22 (Reuters) – Speaking at a press conference held after the European Central Bank’s (ECB) meeting on monetary policy, ECB President Christine Lagarde said:

  • Global demand, fiscal measures support economic activity in the euro area.
  • Uncertainty continues.
  • Coronavirus cases and containment measures suppress euro zone activities.
  • Inflation will rise again due to temporary factors.
  • We will continue to monitor FX developments.
  • Incoming data and surveys point out that economic activity may have contracted in Q1.
  • Near term risks are downside.
  • Medium term risks are more balanced.
  • Headline inflation may rise in the coming months.
  • We anticipate a gradual increase in inflation in the medium term as the increase in coronavirus cases slows.
  • There are clear signs of recovery in the economy.
  • There is an increase in the pandemic emergency procurement program (PEPP) and will continue to do so.
  • The reduction of purchases within the scope of PEPP was not discussed at the ECB’s meeting today.
  • It is premature to consider the reduction in purchases under PEPP.
  • The reduction in asset purchases under PEPP is data dependent, not scheduled.
  • We do not check the yield curve.

Translated by: Canan Sevgili and Berna Suleymanoglu
Proofreading: Birsen Altaylı

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