June 25, 2020 / 1:45 PM / 8 days ago

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

FILE PHOTO: Member of the Executive Board of the European Central Bank (ECB) Yves Mersch speaks during an economics conference in Linz, Austria, July 5, 2018. REUTERS/Lisi Niesner

FRANKFURT (Reuters) - The European Central Bank doesn’t need to use the whole 1.35 trillion euros ($1.51 trillion) 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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