The European Central Bank meets on Thursday and will review the pace of emergency bond buys that it jacked up in March to prevent a rise in borrowing costs hurting a recovery.
Dovish rhetoric from policymakers suggests no hurry to slow the pace of buying under the 1.85 trillion euro Pandemic Emergency Purchase Programme .
With the economy strengthening, the hawks on the Governing Council could make their case for not using the full envelope, so ECB chief Christine Lagarde may be asked if this was debated.from the COVID-19 shock. Lagarde said the ECB would support the euro zone “well into” its recovery.While starting actual tapering is unlikely, so too will Lagarde likely steer clear of any comments that suggest a debate on tapering is even underway.
"The debate will be how you transition between the PEPP and the APP and whether they need to pump up the APP temporarily, most likely...and that's a complex discussion to have," said Nordea Asset Management senior macro strategist Sébastien Galy.surged past its elusive near 2% target
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