ECB's Lagarde: PEPP was targeted to be temporary, exceptional
|The European Central Bank (ECB) President Christine Lagarde added to her earlier comments and said that PEPP was targeted to be temporary, exceptional. Lagarde was speaking at the ECON Committee of the European Parliament (by videoconference).
Additional Comments:
- By definition ECB won't go bankrupt or run out of money.
- ECB is extremely attentive to TLTRO supporting economy.
The remarks did little to provide any meaningful impetus to the shared currency, leaving the EUR/USD pair at the mercy of the USD price dynamics. The pair was last seen hovering near the lower end of its daily trading range, around the 1.1825 region.
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