At the end of last year I said that I didn’t expect that our asset purchase programme would need to be extended again. I see no reason to change my view. What do you mean exactly? The programme is currently expected to run until September. We still need to have a discussion about exactly how it will end.
3/4  BIS central bankers' speeches  Oh, and we thought that ending it meant ending it, i.e. stopping in September. The baseline expectation is, as Mario Draghi has said, that there will be no sudden stop. This is a technical discussion. 4/4  BIS central bankers' speeches