Investors should not read too much into lower bond purchase volumes from the European Central Bank in recent weeks as purchases could still increase later on, ECB board member Isabel Schnabel was quoted on Tuesday day as saying.
“There is typically less activity in both the primary and secondary markets during summertime. That’s one reason why the monthly volume of purchases may drop,” Schnabel told Spanish newspaper Expansión in an interview.
Although Schnabel and board member Yves Mersch both raised the prospect of an early end, ECB President Lagarde last week said this was unlikely, a comment Schnabel appeared to echo this time. The ECB left policy unchanged last week, capping months of extraordinary easing as the 19-country euro zone’s economy started to slowly rebound as pandemic-related restrictions were gradually lifted.
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