Kazaks hinting that the ECB might be kicking the can down the road
- ECB will give reasonable warning before ending PEPP
- Forward guidance is not tying ECB's hands
- Guidance expected to enhance prices, minimise the required stimulus
September was supposed to be the date for any imminent change in terms of policy stance by the ECB with regards to PEPP but Kazaks is trying to play that down now.
The recovery pace is encountering some headwinds in the past few weeks and that might be the reason, alongside risks of the delta variant spread globally.
Let's see if there will be more policymakers joining in on this chorus in the weeks ahead.
