ECB steps up ‘whatever it takes’ fight to save euro area

Luxembourg Times | Mar 26, 2020 at 5:12 PM
  • The European Central Bank scrapped most of the bond-buying limits in its €750 billion pandemic emergency programme.
  • “In a nutshell, the decision removes virtually all constraints on asset purchases, in a further boost to the credibility of the ECB’s commitment,” Frederik Ducrozet, global strategist at Bank Pictet in Geneva, said in a note.
  • OMT would allow the ECB to buy nearly unlimited quantities of an individual nation’s sovereign debt, whereas PEPP must ultimately make purchases proportional to the relative size of each economy.