EURUSD: ECB under pressure to reduce €1.7 trillion bond portfoli
The European Central Bank is increasingly having to reconsider when to start winding down the 1.7 trillion euro ($1.8 trillion) bond portfolio it bought during the pandemic.
The ECB will begin discussions on ending the PEPP rollover before cuts end in 2024 at a meeting in Athens this week. This is fully consistent with the rate tightening efforts of 10 successive interest rate hikes to bring inflation back to 2%.
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