The European Central Bank kept the flow of stimulus high, as expected, lest any cut now precipitate an already worrying rise in lending costs and halt the nascent recovery.
The 19-country eurozone relies on the European Central Bank printing abundant funds to finance the growing government deficits, which made the economy particularly vulnerable to any curbing of support, as it emerged from two successive recessions due to the pandemic.
“Net purchases under the pandemic-related emergency procurement program during the next quarter of the year will continue at a much faster pace than the first months of the year,” the bank said in a statement.
The bank bought debts of about 80 billion euros per month, under the program during the current quarter of the year, up from about 62 billion in the first quarter.
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