ECB launches €750bn emergency purchase programme

The European Central Bank unveiled an emergency asset purchase programme to tackle the effects of the Covid-19 crisis after an extraordinary meeting of its governing council on March 18.

The new Pandemic Emergency Purchase Programme (PEPP) will have a €750 billion ($810 billion) envelope through which the Eurosystem will carry out net purchases of sovereign and corporate assets until the end of 2020.

Although the PEPP is temporary, the statement says the governing council will only “terminate

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