European Central Bank could soon end Reinvestments under its asset purchase programme
The European Central Bank (ECB) may soon begin negotiations on ending cash reinvestments from maturing bonds under its Asset Purchase Program (APP) worth 3.3 trillion euros ($3.3 trillion).
Facing with record-high inflation, the ECB started raising interest rates last month. It is expected that this bank will conduct more interest rate hikes from now until the end of this year to prevent prolonged inflation.
ECB figures show that the value of buybacks in APP is expected to total 337 billion euros next year, with three-quarters of the amount in government bonds. Reinvestments in a smaller pandemic-related emergency program will end in 2024.
It is forecasted to have the possibility that the ECB will raise the policy interest rate by 50 basis points to 0.5% in September and will continue to make similar moves at its next meetings this year.
European Central Bank could soon end Reinvestments under its asset purchase programme
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