ECB strikes hawkish tone as it holds rates and speeds up QE wind-down

Invasion is a 'watershed' moment

Kathleen Gallagher
clock • 2 min read

The European Central Bank has called the Russian invasion of Ukraine a “watershed” moment for Europe, as it took a hawkish tone and adjusted its purchase schedule for the asset purchase programme (APP).

The central bank held rates but revised its monthly net purchases under the APP to €40bn in April, €30bn in May and €20bn in June. This is up from its previous announcement in February, where it said it was planning to make purchases of €40bn in the second quarter, €30bn in the third and €20bn a month from October onward. The central bank added third quarter purchases would be "data-dependent" and reflect the outlook. "If the medium-term inflation outlook changes and if financing conditions become inconsistent with further progress towards our 2% target, we stand ready to revise our s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

The Year of the Fire Horse – will China gallop ahead?

The Year of the Fire Horse – will China gallop ahead?

'Beneath the volatility, structural trends emerge'

Janet Mui
clock 26 February 2026 • 3 min read
Watch Professional Adviser's Working Lunch with Baillie Gifford - Simply balanced: supporting client goals through growth and diversification

Watch Professional Adviser's Working Lunch with Baillie Gifford - Simply balanced: supporting client goals through growth and diversification

Catch up on the discussion

Professional Adviser
clock 26 February 2026 • 1 min read
Should advisers now be actively considering private markets?

Should advisers now be actively considering private markets?

Rethinking accessibility and diversification

Grant Callaghan
clock 26 February 2026 • 4 min read