ECB Research: PEPP’in It Up

<p>We expect the ECB to expand the PEPP envelope by EUR500bn into June 2021 at next week’s meeting. We do not expect new asset classes to be added at this stage. We also expect an extension of the EUR20bn/month ‘normal’ APP, but no additional APP envelope when the current EUR120bn ends in December this year. […]</p>
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