ECB Executive Board member Fabio Panetta said today that “The conditions that we see today do not justify reducing the pace of purchases, and a discussion about phasing out the PEPP is still clearly premature.”
“In fact, we are now seeing a further undesirable increase in yields after the rise we observed earlier in the year,” he added
Also, “we are far from the point where we can see self-sustained growth,” Panetta said. “A premature withdrawal of policy support would risk suffocating the recovery.”
