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Lagarde Makes Subtle Change In End of APP Timeline

ECB
  • Bloomberg quotes Lagarde as saying `HIGH PROBABILITY' NET ASSET PURCHASES END EARLY 3Q
  • This clashes slightly with her comments from the separate panel discussion with Fed Chair Powell saying whether early or late in Q3 depended on incoming data.
  • Roughly speaking: ‘We will have a new set of fresh data in June, which is when we have our next mon pol GC at which point we’ll have to determine when to stop net asset purchases, in the course of Q3 of course but when, is it going to be early or later, to be determined by the data that we receive, and that will then lead us to assess whether or not an interest rate hike is needed and at what point in time after the net asset purchases have concluded.’
  • It follows Holzmann's 'end APP ASAP' from earlier today.
EM BulletHomepageFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsEuropean Central Bank (ECB) Market News
EM BulletHomepageFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

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