June 25, 2020 / 1:42 PM / 18 days ago

ECB can hold back on bond buys if markets calm, Mersch says

Yves Mersch, Member of the Executive Board of the European Central Bank delivers a speech during Lamfalussy Lectures Conference in Budapest, Hungary, February 4, 2019. REUTERS/Bernadett Szabo

FRANKFURT (Reuters) - The European Central Bank doesn’t need to use the whole 1.35 trillion euros (1.2 trillion pounds) it has earmarked for its pandemic-fighting bond purchases if financial markets calm down, ECB board member Yves Mersch said on Thursday.

“We would not need to make use of the full PEPP (pandemic emergency purchase programme) envelope if the Governing Council were to assess that market tensions had eased sufficiently,” Mersch said.

Reporting By Francesco Canepa

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