ECB’s Simkus: Too early to talk about end of PEPP program


The European Central Bank’s Governing Council member and Lithuanian central bank Chief Gediminas Simkus echoed comments from President Christine Lagarde on a likely end to the Pandemic Emergency Purchase Programme.

Key quotes

“Too early to talk about the end of PEPP program.”

“September forecasts needed to discuss PEPP.”

In fact, ECB policymaker Robert Holzmann also said, “PEPP will end in March next year unless a new virus wave occurs.”

Market reaction

EUR/USD is consolidating its bounce above 1.2100, having hit daily highs at 1.2121 in the last hour. The movement remains restricted amid holiday-thinned trading and ahead of a light US economic calendar.

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