The European Central Bank announces 600 billion euros ($674 billion) more of emergency bond-buying and the scheme's extension until June 2021.
Announcing 600 billion euros more of emergency bond-buying and the scheme's extension until June 2021, President Christine Lagarde warned that recovery from infection control shutdowns could be slow in materializing.
Also still in place are hundreds of billions of euros in bond buys already planned under a separate, pre-pandemic stimulus scheme, interest rates stuck at historic lows, and a massive program of cheap loans to banks. "There was a unanimous view in the governing council that action had to be taken in the face of that inflation outlook," she said.
Central bank governors"do not doubt for a second the determination of European leaders at large to really respond to the challenge of the pandemic," Lagarde said, adding that fiscal and monetary policy are now"working hand in hand."
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