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European Central Bank set to increase its stimulus as Covid lockdowns blight the economic recovery
The European Central Bank is set to expand its massive stimulus program further on Thursday as the continent deals with a second wave of the coronavirus pandemic and the associated lockdowns. Back in October, the euro zone’s central bank vowed to “recalibrate its instruments” at its December meeting to respond to the “unfolding situation.” Shortly afterwards, new virus lockdowns across the region dented the economic outlook significantly, at least in the short term, as daily infection rates surged. So far, the ECB has refrained from showing too much optimism on the rollout of vaccine candidates, with ... (full story)