The European Central Bank launched new bond purchases worth 750 billion euros at an emergency meeting late on Wednesday in a bid to stop a pandemic-induced financial rout shredding the euro zone's economy and renew concerns about the bloc's viability. With much of Europe in lockdown amid the coronavirus outbreak, economic activity has come to a near standstill and markets have been in a tailspin, foreshadowing a deep recession on par with the 2008 global financial crisis and raising questions about the euro zone's cohesion at times of stress. Under pressure to act to ...
European Central Bank to print 1 trn euro this year to stem Covid-19 rout
The euro rebounded after the announcement and was last up 0.16% at $1.0929 and Asian stock markets stabilised.