The European Central Bank has expanded its €1.35 trillion emergency purchase program by adding another €500 billion and extended it by nine months to the end of March 2022, as EU economies struggle amid Covid-related lockdowns. “The Governing Council decided to increase the envelope of the pandemic emergency purchase program (PEPP) by €500 billion to a total of €1,850 billion,” the regulator said, in a statement following the meeting of its governing council in Frankfurt. “It also extended the horizon for net purchases under the PEPP to at least the end of March 2022. In any case, the Governing Council will conduct net purchases until
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