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Lagarde Doesn't Classify Actions as Taper

ECB

Q&A Begins:

Q: Did you characterise the decision on PEPP as a taper or turning point? Why do you feel confident enough to do this given that the medium-term inflation projection is still below target and there is a lot of uncertainty around the global economic recovery?

- A: We are recalibrating PEPP. We are doing this on the basis of the framework by looking at the inflation outlook and financing conditions. The inflation outlook has been upgraded. We believe that we can maintain favourable financing conditions with a moderately lower pace of purchases relative to Q2 and Q3. Are we confident? We are clearly seeing an improvement on many fronts. The output numbers are much higher and the inflation forecasts have been upgraded. Coupled with success on vaccinations, this gives the ECB confidence to recalibrate PEPP

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EM BulletHomepagemarkets-real-timeFixed Income BulletsEuropean Central Bank (ECB) Market NewsBulletMarketsEmerging Market NewsForeign Exchange Bullets

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