ECB stays the course, but Services PMIs should be watched ECB stays the course, but Services PMIs should be watched
Joe Perry April 22, 2021 5:34 PM
Stronger services data may indicate the possibility of a taper “discussion” among ECB members in June. Share:
ECB left the Deposit Interest Rate unchanged at -0.5% today, as expected. In addition, the central bank will continue to buy bonds at a significantly faster pace this quarter under the Pandemic Emergency Purchase Program (PEPP). The ECB has the authority to purchase up to 1.85 trillion Euros through March 2022. However, “significantly faster pace” is an objective term. During the first quarter of 2021, the ECB bought roughly 10 billion Euros of bonds per month. “Significantly faster pace” thus far in Q2 meant buying 15-20 billion E