Chiding Governments, ECB Brings Big Guns To Virus Fight
March 12, 2020
European Central Bank chief Christine Lagarde warned on Thursday that the coronavirus had delivered a “major shock” to the global economy that required urgent, coordinated action, as she unveiled fresh stimulus to keep credit flowing.
The latest major central bank to jump into the fray, the ECB launched a flurry of measures to cushion the impact of the virus, including increased bond purchases and cheap loans to banks.
But it surprised observers by leaving key interest rates unchanged.