ECB's Holzmann: PEPP will end when virus emergency is over

Further remarks by Holzmann

• Not seeing the end of the emergency yet
• Will have a better view on PEPP in September
• The market has the right assessment on outlook for PEPP and APP

This is consistent with the ECB messaging as of late, throwing the cards to September as the next key timeframe in which the market can expect something new from the ECB.