Notes: The chart shows aggregated net purchases for all public and private APP and PEPP programmes at month-end. The latest observation is for 30 April 2022. The values for May and June 2022 were inferred from the ECB’s most recent monetary policy announcement (14 April 2022).
Let me now turn to the Outlook for Economic Activity and Prices, known as the Outlook Report, which the Bank releases semiannually in April and October. The Outlook Report presents the Policy Board members’ assessments of economic activity and prices based on the forecasts.