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In an interview with Germany’s Handelsblatt daily,  Jens Weidmann, European Central Bank (ECB) Governing Council member and Bundesbank President, called for the ECB to end the Pandemic Emergency Purchase Programme (PEPP) to end soon, per Reuters.

Additional takeaways

“Condition for a normalisation of monetary policy is a robust economic recovery, end of main measures to end the pandemic.”

“I believe this will happen in 2022.”

“Inflation in Germany is only temporary.”

“No indication of excess wage hikes in Germany.”

Market reaction

These comments failed to help the shared currency find demand. As of writing, the EUR/USD pair was down 0.73% on the day at 1.1906.