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The European Central Bank’s (ECB) Pandemic Emergency Purchase Programme (PEPP) has been extremely efficient and helpful, Christine Lagarde, President of the ECB, told the EU Committee on Economic and Monetary Affairs, as reported by Reuters.

Additional takeaways

“No significant negative side effects from PEPP.”

Not complacent about being under inflation target.”

“Always prepared to deliver on out mandate.”

“Will be very attentive to all incoming info.”

Market reaction

The EUR/USD pair largely ignored these comments and was last seen gaining 0.38% on a daily basis at 1.1675.