‘The ECB action was strong, but when Lagarde went into the details investors lost their excitement’: Here’s what analysts are saying about the ECB’s $1.53 trillion rescue package
- The European Central Bank increased its Pandemic Emergency Purchase Programme by a further 600 billion euros ($676 billion) on Wednesday.
- Most analysts welcomed the move but noted the ECB’s response was more dovish than they expected.
- One analyst said: “With these decisions, the ECB clearly surprised the market on the dovish side, as reflected in significantly lower peripheral yield spreads over bunds” during the ECB’s announcement.
- The euro to dollar exchange rate rose 0.8% to a 3-month high to 1.14.
- Markets Insider rounded up some of the most exciting reactions below.
- Visit Business Insider’s homepage for more stories.
The European Central Bank announced a gigantic 600 billion euros ($676 billion) package to fight coronavirus this week. It means the central bank has committed more than $1.53 trillion in stimulus action since the start of the pandemic.
While the increase to the ECB’s so-called Pandemic Emergency Purchase Programme was largely expected, most analysts were only betting on a $563 billion increase.
Markets Insider has rounded up seven analysts take on what the epic plan means for markets.