It will be necessary to wait for the latest stimuli of the ECB to show

The Head of the European Central Bank (ECB), Christine Lagard, pointed out that the latest measures taken by the ECB to mitigate the negative impact of the new coronavirus pandemic will take some time before they become more pronounced. The ECB announced last week that it would "significantly" increase the volume of bond purchases under its PEPP anti-pandemic program, in response to rising bond yields. However, Lagard recently said that it will take some time for this decision to be more pronounced on weekly figures on the extent of asset purchases that investors are waiting for. Investors are monitoring weekly data on bond purchases by the ECB, which should indicate the bank's efforts to reduce debt service costs for euro area countries. They are pushing up inflation expectations in the US in particular. Nervousness in the markets is likely to increase after the US Federal Reserve significantly raised its forecast for US economic growth this year, as well as inflation expectations, on Wednesday (March 17). According to the Fed, the US economy should grow by 6.5% this year and expects inflation at 2.4%. In the previous December forecast, the bank expected growth of 4.2% this year and inflation of 1.8%. Investors are now waiting for the next data on bond purchases by the ECB for this week. At the same time, the bank increased the volume of asset purchases last week compared to the previous one, even before 11 March announcing the latest step to stop the growth of bond yields and support the economy. According to Reuters earlier this week, the ECB bought € 14 billion worth of bonds under its PEPP anti-crisis program last week. The previous week, it had bought bonds worth € 11.9 billion. After taking into account other asset purchase programs, the ECB spent a total of € 19.3 billion last week, up from a total of € 17.1 billion in the previous week.