ECB to divide eurozone countries as donors and recipients of PEPP reinvestment – Reuters

The European Central Bank (ECB) will divide eurozone countries as donors, recipients and neutrals for the reinvestment of the Pandemic Emergency Purchase (PEPP) Programme proceeds, Reuters reported on Thursday, citing sources familiar with the matter.

The list of recipients will reportedly include Italy, Spain, Portugal and Greece while Germany, France and Netherlands will be among the donors.

ECB is said to review these lists monthly, focusing on the size and the speed of the bond-spread moves.

Market reaction

EUR/USD recovered modestly from two-week lows in the last hour and was last seen losing 0.22% on the day at 1.0417.