European Central Bank President Lagarde Hints at $590m Stimulus Package

The president of the European Central Bank hinted that the institution would continue its strategy of easing its monetary policy and support the market with another stimulus package.

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Speaking during a video-conference at the European Parliament on Thursday, Christine Lagarde said that the “government council will recalibrate its instruments as appropriate.”Lagarde continued to laud the PEPP (Pandemic Emergency Purchase Programme) and TLTRO (Targeted Long Term Refinancing Operations) schemes as “effective”.

The ECB President stressed the importance to continue these financing measures for “as long as needed” to “keep credit flowing” during the ongoing coronavirus pandemic.

A new 500-billion-euro (around $590 bn) stimulus package is expected in December.

AP

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