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A: PEPP has dual key. It has a backstop.........>

ECB
ECB: A: PEPP has dual key. It has a backstop function. It is intended to deal
with short term market stress. It has capacity to address risk of market
fragmentation. It is an instrument to improve the transmission of monetary
policy. Key number two is the stance function. The two keys are active and
embedded in the first place of PEPP. In this particular moment the stance is
perhaps more relevant than monetary transmission. 

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