• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, August 25, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

ECB releases $600 billion to boost Europe’s economy

December 11, 2020
thevaultzby thevaultz
in Europe
0
ECB releases $600 billion to boost Europe's economy

Image: STPP

The European Central Bank (ECB) has announced an expansion of its huge money-printing program by hundreds of billions of euros, an attempt to “prop up the economy” as another wave of coronavirus rips through the region and threatens to disrupt its recovery.

The central bank said in a statement that it would increase its asset purchases by €500 billion ($605 billion), bringing the total stimulus program to €1.85 trillion ($2.24 trillion). It also plans to extend purchases to at least the end of March 2022 and grant more subsidized loans to banks to stimulate lending.

“The monetary policy measures taken today will contribute to preserving favourable financing conditions over the pandemic period, thereby supporting the flow of credit to all sectors of the economy, underpinning economic activity and safeguarding medium-term price stability,” the statement said.

During an interaction with the press, ECB President, Christine Lagarde said that the pandemic continues to pose “serious risks” to European economies and that renewed lockdowns heighten the risk of a delayed recovery.

RelatedPosts

France Summons US Ambassador Over Anti-Semitism Allegations

Lavrov Pours Water On Prospect Of A Putin-Zelenskyy Summit

EU, US Issue Joint Statement On Transatlantic Trade And Investment

She added that while manufacturing is holding up well, services activity has been “severely curbed” by an increase in infection rates and new restrictions,

“An ample degree of monetary accommodation is necessary to support economic activity,” she said.

  • Europe’s Economic Sentiment Drop in November
  • The European economy to contract by 7 percent in 2020 – IMF
france
Europe is now battling another surge in coronavirus cases, prompting fresh lockdowns in major economies such as France. Image: AFP

The ECB also indicated that “uncertainty remains high” with regards to the development of the pandemic and the timing of vaccine distribution, and as such, the bank stands ready to adjust its tools to ensure inflation, which is currently in negative territory, moves towards its 2% target.

The bank left its deposit rate unchanged at minus 0.5% and Lagarde said she expects interest rates to remain at current or lower levels until the inflation outlook improves.

“While the main policy changes announced today were largely as expected, they underline the ECB’s commitment to using its balance sheet well beyond the end of the health emergency in order to keep bond yields exceptionally low,” added Andrew Kenningham, Chief Europe Economist at Capital Economics.

This is the second time that the ECB has expanded its Pandemic Emergency Purchase Program (PEPP), which it rolled out in the spring as the coronavirus swept across Europe and governments had to result to tight restrictions which had adverse impact economic activity. In June, it increased the size of the program by €600 billion ($726 billion).

Despite a record rebound in the third quarter, the EU economy remained 4.2% smaller than its September 2019 level, according to statistics agency Eurostat. Europe is now battling another surge in coronavirus cases, prompting fresh lockdowns in major economies such as Germany, France and Italy. The GDP is expected to contract again in the fourth quarter as a consequence.

“The second wave of the pandemic and the associated intensification of containment measures are expected to result in a renewed significant decline in activity in the fourth quarter, although to a lesser extent than the second quarter,” Lagarde said.

She also stressed the importance of the recovery fund becoming operational “without delay” and called on EU member countries to deploy the funds for “productive public spending.”

Please login to join discussion
Previous Post

2020 Elections Free, Fair And Transparent- CHRAJ

Next Post

Solar Power Penetration in Africa through AfCFTA

[mc4wp_form id="1264"]

Related Posts

Okyeame Kwame Idolises David Dontoh for His Influence
Entertainment

Okyeame Kwame Admits Hunger Split Akyeame Group

August 25, 2025
Starmer Faces Pressure Over Asylum Hotel Crisis
UK

Starmer Faces Pressure Over Asylum Hotel Crisis

August 25, 2025
Trump Gives Russia 50 Days To Reach Peace Deal Or Face Tariffs
USA

Trump Signs Executive Order Targeting Flag Burning

August 25, 2025
Deputy Minister for Finance, Hon. Thomas Nyarko Ampem
General News

Finance Ministry Vows to Sanction MMDAs’ over GIFMIS Non-Compliance

August 25, 2025
ECG Commissions 33kV Feeder to Stabilize Power Supply in Obuasi 
Extractives/Energy

ECG Commissions 33kV Feeder to Stabilize Power Supply in Obuasi 

August 25, 2025
State Enterprises in Tax Trouble: Graphic, GIHOC, TOR Owe Millions to GRA
Vaultz Business

State Enterprises in Tax Trouble: Graphic, GIHOC, TOR Owe Millions to GRA

August 25, 2025
Okyeame Kwame Idolises David Dontoh for His Influence
Entertainment

Okyeame Kwame Admits Hunger Split Akyeame Group

by Esther Korantemaa OffeiAugust 25, 2025
Starmer Faces Pressure Over Asylum Hotel Crisis
UK

Starmer Faces Pressure Over Asylum Hotel Crisis

by Lawrence AnkutseAugust 25, 2025
Trump Gives Russia 50 Days To Reach Peace Deal Or Face Tariffs
USA

Trump Signs Executive Order Targeting Flag Burning

by Comfort AmpomaaAugust 25, 2025
Deputy Minister for Finance, Hon. Thomas Nyarko Ampem
General News

Finance Ministry Vows to Sanction MMDAs’ over GIFMIS Non-Compliance

by Evans Junior OwuAugust 25, 2025
ECG Commissions 33kV Feeder to Stabilize Power Supply in Obuasi 
Extractives/Energy

ECG Commissions 33kV Feeder to Stabilize Power Supply in Obuasi 

by Prince AgyapongAugust 25, 2025
State Enterprises in Tax Trouble: Graphic, GIHOC, TOR Owe Millions to GRA
Vaultz Business

State Enterprises in Tax Trouble: Graphic, GIHOC, TOR Owe Millions to GRA

by Stephen M.CAugust 25, 2025
Okyeame Kwame Idolises David Dontoh for His Influence
Starmer Faces Pressure Over Asylum Hotel Crisis
Trump Gives Russia 50 Days To Reach Peace Deal Or Face Tariffs
Deputy Minister for Finance, Hon. Thomas Nyarko Ampem
ECG Commissions 33kV Feeder to Stabilize Power Supply in Obuasi 
State Enterprises in Tax Trouble: Graphic, GIHOC, TOR Owe Millions to GRA
[/vc_row_inner]

Recent News

  • Okyeame Kwame Admits Hunger Split Akyeame Group
  • Starmer Faces Pressure Over Asylum Hotel Crisis
  • Trump Signs Executive Order Targeting Flag Burning
  • Finance Ministry Vows to Sanction MMDAs’ over GIFMIS Non-Compliance
  • ECG Commissions 33kV Feeder to Stabilize Power Supply in Obuasi 
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.