Published on Thursday, June 4, 2020 | Updated on Tuesday, June 9, 2020

ECB: Doubling down (almost)

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.

Key points

  • Key points:
  • The ECB stands ready to adjust all of its instruments
  • Significant downward revision of GDP and inflation projections
  • Sharp contraction seems to bottom-out, but not enough to avoid an unprecedented recession while risks are to the downside

Documents to download



New comment

Be the first to add a comment.

Load more

You may also be interested in