In order to fortify the #Eurozone economy, the European Central Bank (#ECB) left major stimulus policies frozen on Thursday, 10th September.
Following the press conference on Thursday, the euro reached one week high of $1.1902, as activities start picking pace, though not expected to regain pre-virus levels until next year. #ECB has worked up the coronavirus-stimulus program from 750 billion euros to 1.35 trillion euros, also planning to revisit its decision for #euro-zone banks in December.
The stimulus policies effort came with the Fed shifting its 2% interest rate target to an average. In August, ECB met the inflation rate with an annual figure of 0.2%.
In a statement, ECB president, Cristine Lagarde said that they would be setting the stage for more stimulus programs later as there involves high uncertainty about the economy’s recovery. At the level of the #EuropeanUnion, the governments will be spending the 750 billion euros in the growth, transformation, and digitization of the economy.