ECB Adds €600 Billion To Pandemic QE Facility, Bringing Firepower To €1.35 Trillion

ECB Adds €600 Billion To Pandemic QE Facility, Bringing Firepower To €1.35 Trillion

The ECB has spent less than a third of the €750 billion earmarked for its pandemic purchase program (PEPP), which means it's time for calm reflection and a measured pace of buying until the envelope is exhausted, at which point policymakers can assess whether it makes sense to add more dry powder. I'm just kidding. Having spent just €234.7 billion so far, Christine Lagarde added another €600 billion on Thursday, bringing PEPP's total firepower to €1.35 trillion. Optically, this is an u
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