Reviews ECB In relation to bond buying pace in summer: Circles

08:40  11 june  2021
08:40  11 june  2021 Source:   dw.com

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(Bloomberg) - At the Council meeting of the European Central Bank on Thursday, there were informed circles in relation to the question, in which a large extent in traditionally low-heavy summer bonds bought bonds should be.

Despite an increase in their economic forecasts, the central bank had ultimately decided to continue purchases in a "significantly higher pace" as at the beginning of the year, when weekly papers were acquired in the volume of 14 billion euros.

Some Council members argued that lower market volumes would allow the ECB to spend less than usual to keep the financing conditions favorably. Thus, the purchase volume would remain behind that of the second in the third quarter.

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others spoke to maintain the current pace of purchase over the quarter and suggested higher volumes in July and September to compensate for a weaker August.

The ECB usually slows your bond purchases in August to not overwhelming the thin market in the holiday season. As can be heard, the discussion remained unresolved around the liquidity at yesterday's session.

Summer Lull © Bloomberg Summer LULL

At the press conference, Christine Lagarde announced the disagreements. "There was a debate on the pace of purchases, about some of the analytical aspects when using our instruments," says the central bank chef. "So I use the words 'largely unique'. There were a few different views and any unanimous approval here. "

In the price development Council debate threw some members, as is to be heard, the question of whether the inflation risks could be considered as an upward. It was about the strong economic recovery in the euro area as well as the effects of the strong inflationary impact in the USA.

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Lagarde emphasized in the press conference, higher inflation rates would pass forward and the underlying price pressure remains steamed. An ECB spokesman declined an opinion.

The ECB increased its bond-buying pace since March © Bloomberg The ECB Increased Its Bond-Buying Pace Since March

Headline in the original:

ECB Said to Differ On Bond-Buying Need in Thin Summer Market (1)

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