Isabel Schnabel, Member of the Executive Board of the European Central Bank (ECB), advised against reading too much into weekly purchases under the Pandemic Emergency Purchase Programme (PEPP), per Reuters.
“An extrapolation from weekly data to overall monthly data may lead to misleading conclusions,” Schnabel added.
Earlier in the day, the weekly data published by the ECB showed that the bank bought a net €19.303 billion of assets last week as part of its quantitative easing programme, compared to €17.068 billion a week earlier.
Market reaction
The EUR/USD pair largely ignored these comments and was last seen losing 0.22% on a daily basis at 1.1928.
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