The ECB launched a new €750 billion asset purchase programme
The bank will be buying government debt and private securities until the end of the year, to ensure that all sectors of the economy, including families, firms, banks and governments, can benefit from supportive financing conditions that enable them to absorb the shock.
Policymakers also pledged to increase the size of its asset purchase programmes and adjust their composition, by as much as necessary and for as long as needed.
Last week, the ECB surprised markets by holding interest rates at current levels despite worries about the rapid spread of the pandemic in Europe. It announced, however, a package to support bank lending to small and medium companies. The benchmark interest rate is at 0 percent.