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London open: ECB bond purchase programme in focus
Thu, 22nd Apr 2021 08:13
(Sharecast News) - Stocks have started Thursday s session higher ahead of the European Central Bank s policy decision, the main risk event of the day, with investors especially focused on anything that it might have to say on the possible exit of its Pandemic Emergency Purchase Programme.
The ECB was set announce its policy decision at 1245 BST, followed by the press conference with its chief, Christine Lagarde, at 1330 BST.
Commenting on how markets were approaching the ECB meeting, Michael Hewson, chief market analyst at CMC Markets UK, said: At the last meeting ECB President Lagarde said the bank would step up the weekly purchase program in an attempt to keep a lid on yields, however some members are already calling for the program to end by March 2022, and investors will be keen to see how she navigates any questions on the various diverging views on the governing council over when the program ends.
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