In response to the rise in interest rates observed on the markets, the ECB’s Governing Council decided unanimously on Thursday 11 March to “significantly” increase the rate of repurchases of mainly sovereign securities next quarter as part of the PEPP operation initiated in the spring of 2020 to counter the financial turmoil triggered by the Covid-19 pandemic.
“Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council expects purchases...