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Lagarde: Very High Probability Of Ending Net Asset Purchases In Q3

ECB

Q: Do you think a new tool should be launched before net purchases under APP is terminated? How would ending net asset purchases contribute to meeting the inflation target?

  • A: In relation to flexibility, I have been clear that we believe that flexibility is helpful. It is not something that has been explicitly stated will be incorporated if warranted. It is premature to predetermine when that flexibly will be deployed.
  • Do we believe ending net asset purchases will lower the price of oil? No. But it is also the case that we have to be attentive to the inflation shock, to the impact that it has on wages, to the consequences it could have on inflation expectations etc.
  • For all these reasons it is necessary given the financing conditions that we put an end to net asset purchases. This is a very high probability as we have not yet decided it. This could happen at any time during the third quarter.
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