Following the decision of the European Central Bank (ECB) to expand its pandemic emergency purchasing program (PEPP) from € 600 billion to € 1.350 billion, Christine Lagarde, President of the ECB will deliver a speech on the outlook for monetary policy at a press conference.
Key points to remember
Broad consensus on the increase of 600 billion euros in PEPP.
The board of governors was unanimous for a decision to be made.
“PEPP has prevented a downward spiral in the financial markets.”
About the President of the ECB, Lagarde
The President of the European Central Bank, Christine Lagarde, born in 1956 in France, was previously Director General of the International Monetary Fund and Minister of Finance in France. She began her eight-year term as head of the ECB in November 2019. As part of her duties on the Governing Council, Lagarde is holding press conferences to explain in detail how the ECB looks at the current state and future of the European economy. His comments can positively or negatively the trend of the euro in the short term. Usually a hawkish outlook stimulates the euro (bullish), while a dovish approach weighs on the common currency (bearish).