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Dec 10 - 12:55 AM

EUR: ECB To Take Baby Steps To Normalization Next Week - Danske

By eFXdata  —  Dec 09 - 04:30 PM

Danske Research discusses its expectations for next week's ECB December policy meeting.

"The ECB meeting on Thursday next week has been a key focal point this year, with a recalibration of the ECB’s monetary policy instruments...Specifically, we expect PEPP net purchases to end in March 2022, as originally planned," Danske notes. 

"We expect APP to continue at EUR20/month, and with an additional envelope of EUR250bn that is available with flexible implementation, but with the capital key and ISIN limits still in place. We expect at least a firm indication of TLTRO operations coming in 2022, however, the actual announcement may only come at the February meeting, in light of recent comments from GC members," Danske adds. 

Source:
Danske Research/Market Commentary

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