Lagarde’s pep(p) talk

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It’s been a super busy Thursday with the ECB meeting and a bevy of US data to digest this afternoon. The former left all rates unchanged and kept its pandemic bond-buying program (PEPP) at €1.35tln as expected. President Lagarde made it clear the bank intends to make full use of the PEPP and is flexible regarding asset classes and countries, but bond buying will run at least through the end of June 2021. The ECB acknowledged the rebound in the region’s economy but there was still much uncertainty.

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