The Governing Council of the ECB, in its press release of 9 September 2021 entitled “Monetary policy decisions”, judges that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the pandemic emergency purchase programme (PEPP) than in the previous two quarters.

The Governing Council also confirmed its other measures, namely

  • the level of the key ECB interest rates,
  • its forward guidance on their likely future evolution,
  • its purchases under the asset purchase programme (APP),
  • its reinvestment policies and
  • its longer-term refinancing operations.