The ECB has kept rates unchanged, but introduced a stimulus package against coronavirus

According to the results of the European Central Bank (ECB) meeting, the regulator left key interest rates at the same levels, but presented a package of incentives to combat the effects of coronavirus. The Central Bank has announced measures to support bank lending and has expanded its program of quantitative easing (QE) by 120 billion euros.

The ECB kept the interest rate on loans at zero, the deposit rate was kept at -0.5% per annum, the margin lending rate remained at 0.25% per annum. The Governing Council noted that the ECB's key interest rates will remain at their current or lower levels until inflation approaches the target level of the regulator.

ECB Htad Christine Lagarde said earlier this week that Europe could face a serious economic shock comparable to the 2008 global financial crisis if the authorities in the region do not take the necessary measures to combat coronavirus.