ECB should discuss early end to bond buying scheme: Kazaks
© Reuters. FILE PHOTO: Latvian central bank governor Martins Kazaks attends the bank's macroeconomic forecast presentation in Riga, Latvia September 23, 2022. REUTERS/Ints Kalnins/File Photo
But Kazaks said the move was merely a reflection of Italy's widening budget deficit and this should not stop the ECB from debating an early end to its reinvestments in the 1.7 trillion euro Pandemic Emergency Purchase Programme . The ECB is set to reinvest all proceeds from the scheme until the end of 2024 but some have called for an earlier end, given that the bank has been tightening policy to fight inflation.
Kazaks also said the ECB should revisit increasing the mandatory reserve requirement for commercial banks, which would force lenders to park more cash at the central bank with no interest.
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