ECB announces major boost to pandemic programmes

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The European Central Bank

The European Central Bank’s governing council announced a major increase in the size and duration of its Covid-19 pandemic emergency programmes today (December 10).

ECB president Christine Lagarde said the increase was due to the severity of the second wave of coronavirus infections hitting European Union countries. The ECB kept its policy rates unchanged, with the main refinancing rate at 0%, the marginal lending facility rate at 0.25% and the deposit facility at -0.50%. 

But it introduced a

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