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Visco: ECB won't end tapering before 2023

30 December 2021 14:08 (UTC +04:00)

European Central Bank Governing Council member Ignazio Visco stated on Thursday that the central bank won't end the tapering process before 2023, APA reports citing Teletrader.

Visco said that the ECB's plan is to maintain favorable financing conditions for the economy, thus indicating that the bank does plan to have some form of new asset purchases once the Pandemic emergency purchase program (PEPP) ends.

Lastly, Visco noted that he projects European average inflation to hit 3% over the course of next year, before it starts coming down to 2%, adding that he doesn't believe there is any reason to adjust the central bank's inflation target of 2%.