ECB's Schnabel says a premature removal of ECB support would be a great mistake though financing conditions remain favourable; the economy has reached a turning point and the short-term outlook has improved

Recent yield increase is a factor of the improved outlook "precisely what we would expect and want to see"
The remaining PEPP envelope is quite large, does not impose restrictions on decisions and it is not an appropriate time to discuss an increase
In June we’re going to look at the drivers of financing conditions, we are going to consider additional aspects such as seasonality, and we’ll analyse the inflation outlook. This joint assessment will then determine what is going to happen with our asset purchases.
Says, PEPP will end when its goal of offsetting the negative pandemic impact on inflation has been achieved. We are not seeing this yet.
It's likely that when the PEPP ends we will not have reached the inflation goal and as such will continue to run a highly accommodative monetary policy
PEPP and APP are separate programmes and serve different purposes.
Is 'quite sceptical' on AIT; theoretically, it is appealing but could cause unintended asymmetry. Implementation and communication of this is also difficult. "I personally don’t think we should follow such a strategy."
"...currently no need to discuss adjustments to the tiering multiplier"
"At the current time I don’t see the need to adjust the deposit facility rate."
Pandemic is far from over from a health and economic perspective
Link to release