ECB WATCH | Considerable package without depo cut

Summary

The ECB announced a comprehensive package focused on new liquidity and additional asset purchases measures to support households and firms facing increasing uncertainty.

Key points

• Key points:
• The ECB approves a substantial package of liquidity and QE support, but is contained in its forward guidance
• Depo rates were kept unchanged, failing to meet market’s expectations
• Very strong call for an ambitious and coordinated fiscal response

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