European Central Bank Governing Council member Hernandez de Cos said the PEPP should, in theory, end in March 2022, according to Reuters. He added that other programmes or instruments at ECB's disposal are linked to hitting to sustained 2% inflation target and that the conditions for interest rate hikes had not yet been met by ECB's forward guidance policy.

Market Reaction

The euro has not responded to the latest comments from ECB's de Cos, with FX markets much more focused on Friday on the concerning new South African Covid-19 variant.