ECB announces moderate cut in net asset purchases

ECB president July 2021
ECB president Christine Lagarde

The European Central Bank will moderately reduce its asset purchase rate during the last quarter of the year, president Christine Lagarde announced today (September 9).

The ECB’s governing council unanimously decided to slow down the pace of net asset purchases under the Pandemic Emergency Purchase Programme (PEPP). It took the decision despite the ECB projecting inflation in the eurozone will stay at 1.5% in 2023, below its 2% target.

Council members judged that “favourable financing

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