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ECB intends to discontinue reinvestments under the PEPP at the end of 2024.
Source: https://www.forexlive.com/news/weekly-market-recap-11-15-december-20231215/
The ECB could skew PEPP reinvestments towards certain countries and the scheme’s demise leaves it with the Transmission Protection Instrument (TPI), an untested bond buying programme that has a much higher bar for deployment.
Source: https://cyprus-mail.com/2023/12/14/ecb-leaves-rates-unchanged-starts-pulling-plug-on-bond-buys/