Considering that the euro area has learned to live with the virus responsible for Covid-19, the European Central Bank (ECB) decided on Thursday 16 December to put an end, after March 2022, to the ‘PEPP’ programme for massively repurchasing mainly public securities, which was put in place two years ago to address the pandemic(see EUROPE B12450A6).
In the face of remaining macroeconomic uncertainties, it will maintain a very accommodating monetary policy to ensure the desired anchoring...