Austria’s central bank chief: ECB corona purchases could only be paused

VIENNA (dpa-AFX) – The European Central Bank (ECB) could suspend its Corona securities purchases in the coming year instead of ending them definitively. This is what Austria’s central bank chief Robert Holzmann said on Wednesday in Vienna with a view to the Pepp purchasing program launched in 2020. Such a step could help to preserve the advantages of the program, such as the high flexibility, in case one had to fall back on it in the event of economic shocks. Such a scenario is conceivable, but the ECB does not expect it.

The Pepp purchase program was launched at the beginning of the corona pandemic and has a total volume of 1.85 trillion euros. Of this, the ECB has so far invested around 1.5 trillion euros in the purchase of securities such as government bonds. The program should run until at least March 2022. The ECB has indicated that an end to the purchases is targeted at this point in time. The regular ECB purchase program APP from 2015, with which around three trillion euros have been put into securities so far, is independent of Pepp./bgf/jsl/mis

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