Lagarde speech: ECB can scale up PEPP if needed

Christine Lagarde, President of the European Central Bank (ECB), said on Wednesday that the ECB can scale up the Pandemic Emergency Purchase Programme (PEPP) if needed, as reported by Reuters.

"It's not the time to slow down the fiscal support," Lagarde added.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was posting small daily gains 1.2125.  Meanwhile, the Euro Stoxx 50 Index is virtually unchanged on the day at 3,661.