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MNI BRIEF: ECB To 'Moderately Lower' PEPP Buys in Q4

(MNI) Frankfurt

The European Central Bank said Thursday it will 'moderately' reduce the pace of bond purchases in Q4 under the Pandemic Emergency Purchase Programme from those seen in the previous 2 quarters, maintaining the overall envelope at EUR1.85 trillion until at least the end of March 2022. The ECB said purchases would be made according to market conditions and to ensure favourable financing conditions were maintained. Policymakers again said the envelope could be left unused in full or extended dependent on conditions.

The ECB confirmed that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Central Bank NewsPolicy NewsHomepageEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefStoryRegion
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