Today, Thursday, the European Central Bank decided to ease monetary policy again to help the eurozone economy face the second wave of the Corona pandemic.

The central bank increased the total size of the bond-buying program linked to the epidemic by 500 billion euros, to 1.85 trillion euros, and extended it for nine months until March 2022, with the aim of keeping the borrowing costs of governments and companies at record low levels.

The bank said in a statement: "The uncertainties are still intense, including with regard to the dynamics of the pandemic and the timing of launching vaccines."

The Central Bank added, "We will also continue to follow developments in exchange rates in terms of their potential repercussions on the inflation path in the medium term."

The European Central Bank kept interest rates unchanged at extremely low levels, but kept its longstanding commitment to cut them again if needed.

Source: Reuters

By:Nadeemy Haded