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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.

European Central Bank | ECB

Reuters  |  Frankfurt 

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 ...

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First Published: Thu, March 19 2020. 07:46 IST