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MNI BRIEF: ECB Moves Closer To Policy Normalization

(MNI) London

Latest data reinforces expectations that net asset purchases will end in Q3 2022, the European Central Bank's Governing Council said Thursday, noting the final calibration for bond purchases from July onwards will be data dependent and reflect the "evolving assessment of the outlook."

Policymakers also confirmed that reinvestments under the Pandemic Emergency Purchase Plan, or PEPP, would continue until at least the end of 2024, while APP reinvestments would continue in full in full, for an extended period of time past the date when it starts raising the key ECB interest rates.

President Christine Lagarde will expand on the Governing Council's thinking at the 1430CET press conference.

Policy rates were again left on hold, with the deposit rate at -0.5%, the refi rate at 0% and the marginal lending rate at 0.25%.




said Thursday.

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
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