- ECB should not make too long commitments on asset purchases
- APP will be the key instrument in the future
- Medium-to-long-term inflation risks skewed to the upside
- ECB should be wary of premature tightening
I reckon he's mentioning that they shouldn't be tweaking APP purchases yet. Because reading his other comment on how APP will be the key instrument moving forward, it alludes to the notion that policymakers will be looking to increase asset purchases once PEPP runs its course in March next year.
