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3/26, 1:35 PM (Source: TeleTrader)
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ECB dismisses OMT, favors PEPP instead - report

The European Central Bank (ECB) has no plans to activate the Outright Monetary Transactions (OMT) emergency bond purchase program in an effort to counter the COVID-19 impact on the member states' economies, sources familiar with the matter told Reuters on Thursday.

Despite previous positive stance on the activation of OMT, the ECB reportedly saw the €750 billion Pandemic Emergency Purchase Program (PEPP) as a better solution to mitigate the virus crisis, with the possibility to increase the cap on the program if necessary, the sources stated.

Breaking the News / BJ