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European Central Bank President Christine Lagarde is speaking at a press conference following the institution’s latest monetary policy decision.
The euro zone’s central bank on Thursday expanded its massive monetary stimulus program by another 500 billion euros ($605 billion), as a second wave of lockdown measures weigh on the euro area’s economic recovery.
Markets had largely expected the central bank to add to its bond buying. Back in October, the ECB vowed to “recalibrate its instruments” in December amid a resurgence in coronavirus cases across the continent.
So far, the ECB has refrained from showing too much optimism on the rollout of vaccine candidates, with inoculations likely to begin in the EU early next year.