
The ECB is ready for faster money printing
The European Central Bank (ECB) said today it was ready to speed up money printing to keep up borrowing costs in the eurozone..
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Concerned that rising bond yields could ruin recovery in 19 eurozone countries, the ECB said it would use funds from the Pandemic Emergency Procurement Program (PEPP) in the coming months to stem an unjustified debt spike. .
The much-anticipated move by the ECB is similar to a move by the US Federal Reserve (Fed).
Growth in the eurozone is currently slower than expected as a new wave of the Covid-19 pandemic and slow vaccine distribution slowed the economy's recovery forecast for this spring..
- Although the overall economic situation is expected to improve in 2021, uncertainty remains about the short-term economic outlook, especially the dynamics of the pandemic and the speed of immunization, said ECB President Christine Lagarde.
The inflation forecast was also raised from one to 1,5 percent in December.
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