For the folks in Asia just waking up who may ha ve missed the European Central Bank news.
Unlikely, but just in case.
The headlines:
- ECB leaves key rates unchanged but tapers QE
- Lagarde opening statement: Current inflation increase largely temporary
- Lagarde Q&A: We are re-calibrating PEPP, not tapering
- ECB boosts 2021 inflation forecast to 2.2% from 1.9%
- ECB boosts 2021 GDP forecast to 5.0% from 4.6%
- Sources: ECB policymakers agreed on PEPP monthly purchase target
The shorter version:
- ECB left key policy rates unchanged (marginal lending facility at zero, deposit facility at -0.50%) as expected
- Pace of bond-buying under PEPP to be a little slower
