'The Lady Isn’t Tapering,' ECB's Lagarde Says

The transcript discusses the end of the pet program, focusing on whether it is a taper or a turning point. It explains the recalibration of the pandemic emergency purchase program, emphasizing the joint assessment framework. The inflation outlook has improved significantly for 2021 and 2022, and to a lesser extent for 2023. The commitment to maintaining favorable financing conditions is highlighted, with a moderately lower pace of purchase than in previous quarters.

How does the speaker describe the end of the PEPP?

• As a termination

• As a suspension

• As a recalibration

• As a taper

What framework is used to assess the PEPP recalibration?

• Fiscal Policy Framework

• Economic Growth Framework

• Joint Assessment Framework

• Monetary Policy Framework

What is the main reason for recalibrating the PEPP?

• To maintain favorable financing conditions

• To increase inflation

• To enhance economic growth

• To reduce government spending

How has the inflation outlook changed for 2021, 2022, and 2023?

• It has decreased significantly

• It has improved

• It has worsened

• It has remained the same

What is the expected pace of purchase for maintaining financing conditions?

• Moderately lower

• Significantly lower

• Unchanged

• Significantly higher