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Christine Lagarde, president of the European Central Bank (ECB), is set to speak at a press conference on Thursday, after the ECB announced it will increase its Pandemic Emergency Purchase Programme (PEPP) by 600 billion euros ($672 billion) in a bid to bolster the region’s economy following the Covid-19 crisis.
The amount comes on top of 750 billion euros of government bond purchases that the ECB announced in March, taking it to a total of 1.35 trillion euros. The central bank also said Thursday that the duration of its crisis bond-buying program would be extended from the end of 2020 until June 2021, or until the bank believes the crisis is over.