No interest rate changes from European Central Bank today
The size of the PEPP at €1.85 trillion remains the same.
The ECB says the programme will continue until March 2022 or until the Bank “…judges that the coronavirus crisis phase is over.”
The Bank also said it expects its key interest rates to remain “at their present or lower levels” until it has seen the outlook for inflation “robustly converge” to close to, but below, the target rate of 2%.
It added that this would have to be “consistently reflected in underlying inflation dynamics.”
This means, the ECB will wait until it believes inflation has really increased before it makes any move on its interest rates.
Rates are normally raised to help control inflation.
The latest estimate for inflation in the eurozone in February was 0.9%.
It was -0.3% in December.
There is much debate over whether this recent increase in inflation is down to some temporary factors like the reversal of a cut last year in Germany’s VAT rate.