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In its Survey of Monetary Analysts published on Friday, the European Central Bank (ECB) noted that it is expecting to end the Pandemic Emergency Purchase Programme (PEPP) in March 2022 as originally planned.

Moreover, the survey showed that the ECB does not currently see the need to ramp up purchases under a more standard Asset Purchase Programme to compensate for the loss of stimulus.  

Market reaction

The EUR/USD pair edged slightly higher from the multi-month low it set at 1.1848 earlier in the day and was last seen losing 0.22% at 1.1880.