ECB to Buy Additional $135Bln Worth of Assets in 2020 as Relief Amid Coronavirus Outbreak
The European Central Bank (ECB) will additionally buy assets worth 120 billion euros ($135 billion) on the market this year amid the situation with coronavirus, the regulator said in a statement on Thursday
MOSCOW (Pakistan Point News / Sputnik - 12th March, 2020) The European Central Bank (ECB) will additionally buy assets worth 120 billion Euros ($135 billion) on the market this year amid the situation with coronavirus, the regulator said in a statement on Thursday.
"A temporary envelope of additional net asset purchases of ��120 billion will be added until the end of the year, ensuring a strong contribution from the private sector purchase programmes," the statement said.
The ECB will also hold extra lending auctions to support the eurozone's financial system.
"Additional auctions for the provision of liquidity to credit institutions (LTRO) will be held temporarily to provide immediate support for liquidity to the financial system of the eurozone," the regulator said.