ECB expands coronavirus response

Christine Lagarde
ECB president Christine Lagarde
Photo: IMF/Cliff Owen

The European Central Bank increased the size and duration of its Pandemic Emergency Purchasing Programme and announced that it would reinvest its profits today (June 4).

The ECB’s governing council boosted the size of the PEPP by €600 billion ($679 billion) to a total of €1,350 billion. It extended the PEPP’s horizon for net purchases until “at least the end of June 2021”.

The governing council gave itself a flexible endpoint for the programme. It said it would continue making PEPP purchases

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