European Central Bank president Christine Lagarde is seen on a laptop screen during a livestream video of the central bank's virtual rate decision news conference in Frankfurt, Germany, June 4 2020. Picture: SIMON DAWSON/BLOOMBERG
Italian bonds rallied and the euro reversed losses after the decision, which reflects how Europe is finally coming together with vast spending plans to drag the economy out of its worst recession in living memory. Germany announced a new €130bn fiscal package late on Wednesday, the latest in a raft of national programmes, and the EU has proposed a €750bn joint recovery fund that leaders will discuss later in June.
The decision fits into Lagarde’s pledge to spare no efforts to protect the single currency and should help dispel concern that policymakers’ scope for action is limited after a German court ruling in May questioned the legality of an older, still-active bond-buying programme. However, about two-thirds of the €750bn in pandemic purchases announced in March have not been spent. The early top-up suggests the central bank is not willing to second-guess how long bond investors can wait before demanding higher borrowing costs from the region’s most-indebted nations.
Most economists projected it to be around €500
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global markets rally pauses ahead of more ECB stimulusAsian markets dipped on renewed tension between China and Hong Kong over the national anthem
Source: BDliveSA - 🏆 12. / 63 Read more »
Global markets rally pauses ahead of more ECB stimulusAsian markets dipped on renewed tension between China and Hong Kong over the national anthem
Source: BDliveSA - 🏆 12. / 63 Read more »
Santam says claims in April were mutedThe group has provided policy relief as its clients are hit by the Covid-19 pandemic
Source: BDliveSA - 🏆 12. / 63 Read more »
Ramaphosa's web of secrecy is undermining our democracyNOMPUMELELO RUNJI | The national command council has misapprehended the national state of disaster and lockdown to mean a suspension of the democratic practice of open public debate and consultation. do you think at the Presidential,s office there is a Picture of Former President Jacob Zuma on the walls.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
EDITORIAL: Did the tribunal put its thumb on the scales?Ruling on excessive pricing uses the pandemic to circumvent the Competition Act, lawyers say Let Us Give Your Business That Professional Look You've Always Wanted 🔥💯🤷♂️ ❗❗Shlabane Graphics Special❗❗ Business Logo: R400 Business Letterhead: R200 Business Card:R130 Whatsapp: 0670551759 Email:Toptalent951gmail.com
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »