ECB's Holzmann: PEPP should end next year if economic conditions remain favourable

Author: Justin Low | Category: Central Banks

Remarks by ECB policymaker, Robert Holzmann


  • Economic impact from the virus is getting smaller with each wave
  • It is clear to markets that ultra-loose policy will not continue forever
  • There are still signs of inflation slowing
While Holzmann is among the hawks, he's not really arguing too much ahead as he is advocating that the recent increase in price pressures may not be too persistent and that there are still signs that inflation is slowing.

In any case, the "recalibration" yesterday on the pace of PEPP purchases also reaffirms that pandemic support will be pulled in March next year but don't expect that to be the case for APP purchases - which may even be upsized in the year ahead.
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