ECB QE Monitor - January 2021

Monday 11 January 2021

  • In December, the ECB bought €57.2bn under the PEPP and €21.1bn under the APP.
  • The ECB's balance sheet is now equivalent to 61% of euro area GDP compared to 39% at the start of the year.
  • PEPP:
    • Pandemic bond-buying program was raised by €500bn euros to a total of €1,850 billion and extended by nine months to at least the end of March 2022.
    • The ECB already used up around €757bn or 41% of its EUR1.85tn PEPP envelope.