The member of the Governing Council of the European Central Bank (ECB), Pablo Hernández de Cos, stated that purchases from the Pandemic Emergency Purchasing Program (PEPP) should be adjusted to counteract rising interest rates, if the increase is not accompanied by the return of inflation in the medium term, according to Reuters.
On fiscal policy, the official said that considering current circumstances, it may be necessary to allow national tax authorities more room for maneuver to apply fiscal policies that enhance growth.
Later on Friday, the President of the ECB, Chirstine Lagarde, will exhibit at an event on climate change and capital markets. On Thursday the ECB decided to keep monetary policy unchanged, as expected.
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