(4)In addition, the Governing Council decided to extend the intended horizon of net purchases under the PEPP until at least the end of June 2021, or beyond, if necessary, and in any event until the Governing Council considers that the COVID-19 crisis phase is over. The extension of the minimum purchase horizon aligns the net purchase phase with the expected duration of the most severe COVID-19 related restrictions on normal economic activity and corresponding weak inflation pressures.