Commenting on a likely withdrawal of the European Central Bank’s (ECB) Pandemic Emergency Purchase Programme (PEPP), the central bank’s Governing Council member Martins Kazaks said that “it would be premature for ECB to make a judgment on PEPP future in September.”
Additional comments
“ECB will give reasonable warning before ending PEPP.”
“Forward guidance is not tying ECB's hands.”
“Guidance expected to enhance prices, minimise the required stimulus.”
Market reaction
EUR/USD was last seen trading at 1.1850, down 0.08% on the day, having failed once again in the 1.1880 price zone. A fresh uptick in the US dollar downed the main currency pair.