Chief Economist for Financial and Economic Analysis
Sonsoles Castillo, Chief Economist for Financial and Economic Analysis at BBVA Research.She joined BBVA Research in 1997. She has been Chief Economist for Capital Flows, for Europe and for Emerging Markets. Areas of interest, Monetary policy, European integration and Financial Markets.Research assistant at FEDEA (Fundación de Estudios de Economía Aplicada).Gained a Scholarship for Research Staff Training at the Faculty of Economics of the University of Alcalá de Henares.BA Studies Economics, University of Alcalá de Henares.
Three months after approving a Pandemic Emergency Purchase Program (PEPP) for an initial EUR 750 billion in response to the COVID-19 crisis, at its most recent meeting, the European Central Bank (ECB) agreed to expand the program by a further EUR 600 billion.
The ECB packed quite a punch today as it boosted its COVID-19 response strategy with a larger than expected expansion of its QE purchases under the Pandemic Emergency Purchase Program (PEPP), by €600 bn, to a total of €1350 bn and extended the purchase horizon to at least the end of June 2021.
With COVID-19 led disruptions portending an unprecedented crisis across the Euro Area, that could lead growth to decline between -5% and -12% according to Ms Lagarde, the ECB took further actions today to ensure ample liquidity conditions