The council member of the European Central Bank (ECB), Martins Kazaks, has spoken out against a quick decision on the future of the Pepp crisis program for the purchase of bonds.
It is still too early to decide whether and how the Pepp program can be changed, said Kazaks on Wednesday in an interview with the Bloomberg news agency.
He referred to the increasing number of infections in the Corona crisis.
New measures to contain the pandemic are looming, which pose a threat to the economic recovery.
There is currently no need for a decision on the further course of the Pepp program, said Kazaks, who also heads the Central Bank of Latvia.
"The future of the program will be discussed, but a decision would be premature at the moment," said the central banker.
In the market, a decision on the further development of the Pepp program was not ruled out at the interest rate meeting of the Governing Council in September.
At the September meeting, new projections on the further development of the economy in the euro area will be presented.
The Pepp crisis program to support the economy in the fight against the consequences of the corona crisis is to run until March 2022.