The recently released account of April's policy meeting offered some unusually explicit hints that additional stimulus measures would follow at the subsequent policy meeting on 4 June. The Governing Council was "fully prepared to increase the size of the Pandemic Emergency Purchase Program (PEPP) and adjust its composition, and potentially its other instruments, if, in the light of information that became available before its June meeting, it judged that the scale of the stimulus was falling short of what was needed". The flexibility of the PEPP makes it a more appealing option for the Governing Council than the ... (full story)