The European Central Bank (ECB) maintains interest rates, yet shifts focus to an exit plan for the pandemic-era stimulus, totaling €1.7tn.
The ECB's roadmap involves a gradual reduction of the PEPP portfolio by €7.5bn monthly, starting over the second half of 2024. Reinforcements under PEPP will be scaled down and eventually terminated by the close of 2024.
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Under the hood the ECB is doing YCC and was raising rates - it's crazy.