ECB Boosts Pandemic Emergency Purchase Programme

The European Central Bank on Thursday increased the size of its emergency asset purchase programme and maintained its commitment to ease policy stance further if needed, as the euro area faces its worst recession in decades due to the impact of the coronavirus, or Covid-19, pandemic.

The central bank left its key interest rates unchanged as expected.

The Governing Council decided to increase the size of the pandemic emergency purchase programme, or PEPP, by EUR 600 billion to a total EUR 1,350 billion, the bank said in a statement.

This expansion will further ease the general monetary policy stance and support funding conditions in the real economy, especially for businesses and households, the ECB said.

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