Comments by ECB executive board member, Isabel Schnabel
- That is as long as we remain in the baseline scenario of our projections
- There is no urgency to discuss adding fallen angels to asset purchases
- But ECB is of course, aware of the risks
I don't think there is much doubt that they will be using up the entire portion of PEPP by the middle of next year, even if the pace of purchases may slow down a little. If anything else, they may just extend the duration in fear of triggering a (too early) taper tantrum.
On the topic of fallen angels, it was something that they could have pursued last month as highlighted here; though it seems like they don't see the need for that yet.
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