The European Central Bank (ECB) announced an economic stimulus program Wednesday night
The European Central Bank announced an economic stimulus program worth €750 billion Wednesday night.that the governing council had decided to launch a temporary asset purchase program to navigate the economic downturn across the eurozone linked to the coronavirus outbreak. The program should last until the end of 2020.."There are no limits to our commitment to the euro. We are determined to use the full potential of our tools, within our mandate.
“This allows for fluctuations in the distribution of purchase flows over time, across asset classes and among jurisdictions,” the ECB said in the statement. “The governing council will terminate net asset purchases under PEPP once it judges that the coronavirus COVID-19 crisis phase is over, but in any case not before the end of the year,” said the ECB.
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