ECB Vice President Luis de Guindos said that to support the region's economy next year, the ECB may continue its bond purchases. In addition, he said that it is possible to resume the Pandemic Emergency Purchase Program (PEPP), which expires in March 2022.
Experts note that given the ECB's signals that an interest rate increase should be expected no earlier than the completion of bond purchases, Luis de Guindos' recent comments reduce the chances of a rate hike in 2022.
Luis de Guindos also expressed a more cautious attitude towards 2023, and commented on the situation with a new strain of coronavirus, noting that the region's economy has adapted well to life in a pandemic, and vaccination is moving forward.