ECB: Doubling down (almost)
Published on Thursday, June 4, 2020 | Updated on Tuesday, June 9, 2020
ECB: Doubling down (almost)
Summary
The ECB packed quite a punch today as it boosted its COVID-19 response strategy with a larger than expected expansion of its QE purchases under the Pandemic Emergency Purchase Program (PEPP), by €600 bn, to a total of €1350 bn and extended the purchase horizon to at least the end of June 2021.
Key points
- Key points:
- The ECB stands ready to adjust all of its instruments
- Significant downward revision of GDP and inflation projections
- Sharp contraction seems to bottom-out, but not enough to avoid an unprecedented recession while risks are to the downside
Geographies
- Geography Tags
- Europe
Topics
- Topic Tags
- Central Banks
- Macroeconomic Analysis
Authors
Sonsoles Castillo
BBVA Research - Chief Economist for Financial and Economic Analysis
Sumedh Deorukhkar
BBVA Research - Senior Economist
Agustín García
BBVA Research - Lead Economist
Miguel Jiménez
BBVA Research - Lead Economist
María Martínez
BBVA Research - Principal Economist
Documents and files
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