The ECB and the bank’s president Christine Lagarde explained on Thursday the central bank’s bond purchases will cease in Q3. Economics Inflation
“At today’s meeting the Governing Council judged that the incoming data since its last meeting reinforce its expectation that net asset purchases under the APP should be concluded in the third quarter,” the ECB disclosed to the press. After the APP ends, the bank is expected to start hiking the benchmark bank rate. However, in Lagarde’s opinion, it will depend on what happens with the current Ukraine-Russia war.
The EU’s economic improvement, Largade said “will crucially depend on how the conflict evolves, on the impact of current sanctions, and on possible further measures.” The central bank’s message on Thursday highlighted that benchmark bank rates won’t change until end of the APP. “Any adjustments to the key ECB interest rates will take place some time after the end of the Governing Council’s net purchases under the APP and will be gradual,” the ECB detailed in a statement.
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