ECB to maintain accommodative policy in response to coronavirus crisis

[PARIS] The European Central Bank will maintain an accommodative policy in response to the ongoing coronavirus crisis, ECB President Christine Lagarde said on Monday.

"The crisis is already transforming our economies and we can chose to make our growth path greener, more intelligent and more digital. At the ECB we are determined to support this movement and we will continue to develop an accommodative monetary policy, as justified by economic circumstances," Lagarde said at a conference of French regions in Paris.

She also said that about 590 billion of the ECB's 1,350 billion euro (S$2.15 billion) asset purchase programme had been committed so far and that this programme was helping to lower long-term interest rates.

REUTERS