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ECB Increases PEPP Bond-Buying Program by 600 Billion Euros

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By Geoffrey Smith

Investing.com -- The European Central Bank said Thursday it will increase the size of its main pandemic-fighting bond purchase program by 600 billion ($672 billion), ramping up its efforts to support a Eurozone economy that is expected to shrink by more than 8% this year.

The ECB also said after its regular council meeting that it will stretch the purchases under the Pandemic Emergency Purchase Program out until at least the middle of next year. "In any case, the Governing Council will conduct net asset purchases under the PEPP until it judges that the coronavirus crisis phase is over," it added.

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