ECB's Muller: ECB will discuss raising regular QE when PEPP ends

The bond buying will never stop

• Believes ECB will be able to discontinue PEPP in March
• Can't just move PEPP flexibility to APP

As I mentioned earlier in the week, expect more of the remarks above to be a staple for the ECB through to year-end. The end of PEPP doesn't matter all too much when the ECB is just simply going to upsize APP purchases next year.