The European Central Bank, calling Russia’s invasion of Ukraine a “watershed for Europe,” on Thursday said it would adjust its Asset Purchase Program, or APP, in the months ahead to take into account “the uncertain environment.” The ECB said its Governing Council also expressed support for the Ukrainian people. The central bank will end its pandemic emergency purchase program, or PEPP, at the end of March as scheduled. Monthly purchases under APP will amount to Monthly net purchases under the APP will amount to €40 billion in April, €30 billion in May and €20 billion in June, the ECB said, adding it may conclude the program in the third quarter. “The Governing Council will take whatever action is needed to fulfil the ECB’s mandate to pursue price stability and to safeguard financial stability,” the ECB said. ECB President Christine Lagarde will hold a news conference at 8:30 a.m. Eastern.
Source: Marketwatch
