11/30/2023, 11:04 AM (Source: TeleTrader)
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ECB to temporarily halt PEPP purchases

The European Central Bank (ECB) decided to temporarily pause the purchases of the pandemic emergency purchase programme (PEPP), a monetary policy mechanism introduced by the ECB in March 2020 with the aim of mitigating the impact of the COVID-19 outbreak.

In a statement released on Thursday, the institution explained that its decision comes in response to the expectation "of significantly lower market liquidity towards the end of this year." The last trading day in 2023 will be November 19, and the reinvestments will restart on January 2, 2024.

Furthermore, the ECB said that " the lists of securities held under the APP [asset purchase programme]/PEPP will not be updated on Tuesday, 26 December 2023 and Tuesday, 2 January 2024," while the first monthly and weekly release of APP and PEPP data in 2024 will occur on January 4.

Baha Breaking News (BBN) / JJ