Reuters reports, citing sources familiar with the matter
- Policymakers agree that PEPP should end as scheduled
- But decision on recalibrating APP purchases may need to wait
- Some policymakers advocate delaying APP decision until February
- Either that or making only a short-term commitment in December
- Policymakers increasingly concerned that outlook is too murky for a comprehensive policy decision in December
That is not too surprising given the latest curveball thrown by the omicron variant. However, the ECB may also want to wait on inflation developments to be able to send a more consistent message and not when inflation is supposedly "peaking" as it is now.
If anything else, this means that the December meeting could be more of a placeholder once again as the can gets kicked down the road to next year.
