The ECB announced that it will increase its Pandemic Emergency Purchase Programme by 600 billion euros ($672 billion), as it attempts to bolster the region's economy following the coronavirus crisis.
European Central Bank President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020.The European Central Bank announced Thursday that it will increase its Pandemic Emergency Purchase Programme by 600 billion euros , as it attempts to bolster the region's economy following the coronavirus crisis.
The emergency program has helped keep borrowing costs lower for countries in the euro zone — the 19-member region which uses the euro as its common currency. The ECB has also taken measures to boost bank lending.
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