Economics
Schnabel Says ECB May Not Use Full Size of Emergency Program
- Pace of purchases is likely to slow as corona crisis eases
- ECB board member cautions euro-area recovery may be slow
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The European Central Bank may not need to use the full size of its recently expanded pandemic purchase program, Executive Board member Isabel Schnabel said on Tuesday, adding that the pace of buying is likely to slow as the crisis abates.
Schnabel is the latest in a line of officials to suggest that the ECB won’t necessarily exhaust its 1.35 trillion-euro ($1.5 trillion) plan -- less than four weeks after nearly doubling its size. Executive Board member Yves Mersch, Slovakia’s Peter Kazimir and France’s Francois Villeroy de Galhau have all flagged fewer purchases as an option.