*ECB: GUIDANCE IMPLIES TRANSITORY ABOVE-TARGET INFLATION PERIOD
*ECB: PEPP TO RUN SIGNIFICANTLY FASTER THAN AT START OF YEAR
*ECB: Net purchases under the APP will continue at a monthly pace of €20 billion.
*ECB: The Governing Council will continue to reinvest the principal payments from maturing securities purchased under the PEPP until at least the end of 2023
*Governing Council expects the key ECB interest rates to remain at their present or lower levels until it sees inflation reaching two per cent
*Envelope can be recalibrated if required to maintain favourable financing conditions to help counter the negative pandemic shock to the path of inflation.
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