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EUROPEAN CENTRAL BANK DID NOT CHANGE THE INTEREST RATE
The European Central Bank did not change its monetary policy after the extraordinary measures taken in the past four months due to the corona virus epidemic
Yazar: Tom Roberts
Yayınlanma: 16 Temmuz 2020 23:29
Güncellenme: 5 Kasım 2024 20:08
EUROPEAN CENTRAL BANK DID NOT CHANGE THE INTEREST RATE
The European Central Bank (ECB) did not change its monetary policy after the extraordinary measures taken in the past four months due to the corona virus epidemic.The ECB kept the deposit rate at minus 0.5% and policy rate at zero. To combat the contraction of the pandemic in the economy
ECB, which will buy bonds up to 1.35 trillion euros, has not changed the size of the bond purchase program.
"An ambitious and coordinated financial stance is critical," said European Central Bank (ECB) President Christine Lagarde.
Speaking at a press conference following the announcement of the ECB interest rate decision, Lagarde underlined that the financial measures taken to support employees, businesses and governments should be “temporary and targeted” against the Covid-19 economic crisis.
Lagarde said the ECB Management Council welcomed the new support mechanism of the European Commission, "New Generation EU", and urged European leaders to "reach a quick deal" on the package that will help "rejuvenate" the economies of the bloc.
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