MNI BRIEF: Some ECB Members Sought Earlier PEPP End -Accounts

A “very large majority” of the European Central Bank Governing Council members agreed with the proposal to begin tapering the Pandemic Purchases Emergency Programme (PEPP) reinvestments from June 30, but some members favoured an earlier end of the programme while others argued that full reinvestments should continue until the end of 2024, accounts of the December policy meeting showed on Thursday.

The ECB GC members were confident that inflation would be brought back towards the 2% target in 2025 although there were different views about if there was “sufficient confidence that the target would be reached in a timely manner” and a need was seen to keep a restrictive stance for some time. Rates were held and there was no discussion of cuts at the December meeting, the accounts showed. (MNI SOURCES: "Biggest Minority" Favours ECB June Cut)