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The President of the European Central Bank, Christine Lagarde, speaks at a press conference following the institute’s latest monetary policy decision.
The euro area central bank expanded its massive monetary stimulus program on Thursday by a further 500 billion euros (605 billion US dollars) as a second wave of lockdown measures weighs on the euro area’s economic recovery.
Markets had largely expected the central bank to step up its bond buying. As early as October, the ECB promised to “recalibrate” its instruments in December, as coronavirus cases are on the rise again across the continent.
So far, the ECB has refrained from being too optimistic about introducing vaccine candidates, as vaccinations are expected to start in the EU early next year.
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