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GRAPHIC-The great exit: central banks line up to dial back emergency stimulus
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The great exit: central banks line up to dial back emergency stimulus | Hellenic Shipping News Worldwide
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Swathi NairShrutee Sarkar
4 minute read
The headquarter of the European Central Bank (R,ECB) is photographed in Frankfurt, Germany, January 22, 2021, REUTERS/Kai Pfaffenbach
BENGALURU, July 13 (Reuters) - The European Central Bank will start tapering its pandemic-related asset purchases after its September meeting and stop buying them by the end of March, according to a Reuters poll which showed the top economic risk was new COVID-19 variants.
After announcing a new strategy last week that allows the central bank to tolerate inflation higher than its new 2% symmetric target, ECB President Christine Lagarde said on Monday the bank would change its policy guidance at its July 22 meeting. read more
36 of 51 economists polled expect the ECB to taper QE purchases after September
Tue 13 Jul 2021 00:12:26 GMT
Info below via Reuters:
36 of 51 said the ECB would start tapering its Pandemic Emergency Purchase Programme (PEPP) after the September meeting
up from nearly 63% last month
All of the 1.85 trillion euro PEPP envelope would be used up, according to the consensus view of 39 economists, with the lowest expectation pencilled in at 1.5 trillion euros Judging from the current monthly pace of purchases, our assumption of only a gradual reduction of this pace after September, and in the remaining time until March, the envelope will likely be used in full, said Salomon Fiedler, European economist at Berenberg. Furthermore, by September, the vaccination campaign in Europe should be all but complete . but if new variants are able to circumvent protection from current vaccines, renewed social distancing would once again put a damper on the economy.
ECB s new guidance must show there is leeway on inflation -Centeno
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