“The expectation is that the volume will not be used to the full,” said the central banker on Friday. The targeted volume is understood as an upper limit that can be used up.
The ECB decided on Thursday to increase its bond purchase program PEPP by 500 billion euros and to extend the purchases by nine months until the end of March 2022. This means that the PEPP program, one of the monetary authorities’ most important crisis instruments, is now set at 1.85 trillion euros.
Holzmann left open which position he himself took in the discussion about expanding the PEPP program.
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