Natixis - For how long will the ECB continue its bond-buying policy?

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Natixis

Patrick Artus

For how long will the ECB continue its bond-buying policy?

The ECB has decided to extend its COVID pandemic emergency purchase programme (PEPP) to March 2022 and expand it to EUR 1.85 trillion. But this programme may be extended further. Until when? To try to find out, we examine: The output gap (the degree of underemployment) in the euro zone; Inflation in the euro zone; Fiscal policies in the euro zone; The risk of a crisis in the peripheral countries; The risk of an appreciation of the euro. It turns out that the most likely scenario is a continuation of the ECB’s government bond purchases well beyond March 2022 .

07/01/2021 8 EN

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Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Analysts

Patrick Artus

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For how long will the ECB continue its bond-buying policy?

Where does China stand following the trade war truce?

France, second highest public spendings in the euro area: where do the differences with the others come from?

France, vice-championne des dépenses publiques en zone euro : d’où proviennent les écarts avec les autres pays ?

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