ECB: the 1,850 billion anti-Covid plan. What and how Pepp works

The appointment

The meeting of the Governing Council of the ECB is held on Thursday, chaired by Christine Lagarde. Investors expect Eurotower to reiterate the need for flexible use of Pepp (Pandemic Emergency Purchase Programme), the 1,850 billion euro purchase plan for EU countries’ government bonds launched in March 2020 to tackle the pandemic in April last year. Analysts are not ruling out using this tool to expand long-term government bond purchases should bond yields continue to rise.

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