ECB keeps monetary easing to support recovery

The European Central Bank has decided to maintain its large-scale monetary easing policy, saying it is needed to help the eurozone recover from the pandemic.

The ECB discussed the monetary policy for the 19-country bloc on Thursday.

The bank kept its key deposit rate unchanged at minus 0.5 percent. It also decided to maintain the scale of its asset-purchase program.

The ECB had in addition committed to buying 1.85 trillion euros, or over 2.2 trillion dollars, of assets as an emergency measure.

Vaccination programs are progressing in the eurozone and prices have been rising backed by expectations that the economy would recover.
But the ECB president reiterated the bank has not discussed changing the pandemic emergency purchase program. Christine Lagarde says it is too early to discuss an exit, citing the spread of virus variants as a risk.