German Council of Economic Advisers: ECB should end PEPP as soon as recovery takes hold

The German government's council of economic advisers said on Wednesday that the European Central Bank (ECB) should end its Pandemic Emergency Purchase Program (PEPP) as soon as the economic recovery is taking hold, as reported by Reuters.

"The European Union should not make its debt-financed recovery funds permanent unless member states transfer fiscal sovereignty to Brussels," advisers added.

Market reaction

The EUR/USD pair showed no reaction to these comments and was last seen losing 0.45% on the day at 1.1761.