ECB: 750 billion emergency program due to corona crisis

The European Central Bank (ECB) has launched an emergency program worth 750 billion euros to deal with the economic effects of the corona crisis. As part of the program, which will run at least until the end of the year, the ECB plans to buy up government and private securities, as the ECB announced on Thursday night. This was said to counter the risks for the development of the euro exchange rate posed by the Corona crisis.

The ECB is committed to supporting all euro area citizens in this "extremely challenging time", the central bank said after an extraordinary conference call by the Governing Council. In doing so, she wanted to ensure that all economic sectors benefit from the measures in order to be able to "absorb the shock".

Should also prevent possible deflation
The purchase of assets is also intended to send a signal to the markets, thereby alleviating the currently rampant uncertainty about the further economic effects of the pandemic. The ECB had previously bought assets valued at between 15 and 80 billion euros a month to prevent possible deflation.