Economics
ECB Signals December Stimulus Coming on New Virus Lockdowns
- Next meeting will be backed up by updated economic projections
- Bond program kept unchanged for now at 1.35 trillion euros
Lagarde noted that an upturn in infections has come earlier than expected, creating a “clear risk” to the economic outlook.
Photographer: Chris Ratcliffe/Bloomberg
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The European Central Bank gave a strong indication that it will likely boost its emergency bond-buying program to stabilize the euro-area economy after governments imposed a spate of new restrictions to control the coronavirus.
For now, the Governing Council held its pandemic bond-buying program at 1.35 trillion euros ($1.6 trillion), reiterating that it will run until at least June 2021 and won’t be stopped until the “crisis phase” of the pandemic is past. The ECB’s deposit rate stayed at -0.5%.