ECB's de Guindos: Will decide on PEPP alternatives in December, if needed

On monetary policy stimulus, the European Central Bank (ECB) Vice President Luis de Guindos said that the central bank will decide on the Pandemic Emergency Purchases Programme (PEPP) alternatives in December if needed.

Further comments

“Expect bottlenecks to ease but important to avoid second-round effects.”

“Monetary policy will remain accommodative but the goal is price stability.”

“If economic activity normalizes, PEPP will have accomplished its mission.”

• ECB’s de Guindos: ECB vigilant to second round effects of price gains

Market reaction

EUR/USD Is extending its recovery from yearly lows above 1.1600, as the US dollar pares the early rebound despite the risk-off market mood. The spot was last seen trading at 1.161, up 0.20% on the day.