Lagarde Says ECB Didn't Discuss Phasing Out Crisis Stimulus

The Governing Council did not discuss phasing out the PEP as it is premature. The pace of purchase under the PEP is data-dependent, not based on a calendar. The Council is committed to maintaining favorable financing conditions and assesses these alongside the inflation outlook. The combination of these factors determines the purchase pace. Future assessments will occur in June, but any phasing out remains premature.

Why did the Governing Council not discuss phasing out the PEP?

• They were waiting for a specific date.

• They had already decided to phase it out.

• They had insufficient data.

• It was considered too early to discuss.

What is the basis for determining the pace of purchase under the PEP?

• Government policy

• Public opinion

• Data dependency

• A fixed calendar date

What two elements are assessed to maintain favorable financing conditions?

• Government spending and tax rates

• Interest rates and stock market trends

• Financing conditions and inflation outlook

• Employment rates and GDP growth

How often does the Council plan to reassess the pace of purchase?

• Annually

• Every quarter

• Intermittently, with a reassessment in June

• Every month

What is the current stance on phasing out the PEP?

• It will be phased out next month.

• It is actively being phased out.

• It is considered premature to phase out.

• It has been completely phased out.