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5/14, 1:51 PM (Source: TeleTrader)
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ECB: Economic activity to return to growth in Q2

The economic activity in the euro area should resume growing in the second quarter of 2021, according to the minutes of the April 21-22 meeting of the European Central Bank's (ECB) Governing Council published on Friday. The council cited progress with COVID-19 vaccination campaigns across the European Union and the planned relaxation of containment measures.

The members agreed future purchases under the pandemic emergency purchase program (PEPP) will "continue to be based on the joint assessment of financing conditions and the inflation outlook." The council stated the next monetary policy meeting in June will provide an opportunity "to conduct a thorough assessment of financing conditions and the inflation outlook, at which time the assessment would be informed by the new Eurosystem staff macroeconomic projections."

Breaking the News / DJ