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A: The PEPP has already demonstrated that it....>

ECB
ECB: A: The PEPP has already demonstrated that it is a successful programme. It
has prevented downward spiral in financial markets and reduced tail risks. There
are two main factors that led the ECB to reconsider PEPP and expand it and
extend the duration. The first..the outlook for price stability has been
impacted by the fallout from the Covid crisis. Second, financial conditions are
significantly tighter today (as measured by average sovereign yields) in a
situation where easier conditions are needed to meet price stability. 
- There was a unanimous view in the GC that action had to be taken given the
ECB's mandate and the price outlook. 

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