# ECB boosts economic stimulus package as Covid-19 hits recovery – The Irish Times

> The ECB raised its pandemic emergency purchase programme from €1.35 trillion to €1.85 trillion and extended it to at least March 2022. It also extended cheap bank financing at rates as low as minus 1 percent until June 2022. The bank expects the euro-zone economy to contract 2.2 percent in the fourth quarter.

- Date: 2020-12-10 · published 2020-12-10T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/49857-ecb-boosts-economic-stimulus-package-as-covid-19-hits-recovery-the-irish-times
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Larger bond buying and cheap bank credit weaken the euro relative to the dollar and support risk assets and commodity demand. The added liquidity is a moderate tailwind for the broader commodity complex.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-06-28 | [ECB says markets over-reacted to Draghi’s stimulus signals – The Irish Times](https://feedsoft.ai/events/70717-ecb-says-markets-over-reacted-to-draghi-s-stimulus-signals-the-irish-times.md) | +0.3% | +2.9% |
| EURUSD | 2021-11-18 | [Euro hit by bets ECB monetary policy will diverge from major peers – The Irish Times](https://feedsoft.ai/events/11950-euro-hit-by-bets-ecb-monetary-policy-will-diverge-from-major-peers-the-irish.md) | -1.1% | -0.1% |
| EURUSD | 2021-08-29 | [ECB out-doving the Fed boosts euro's allure as funder of carry trades - The Business Times](https://feedsoft.ai/events/45767-ecb-out-doving-the-fed-boosts-euro-s-allure-as-funder-of-carry-trades-the.md) | +0.8% | -0.8% |
| EURUSD | 2020-09-23 | [Dollar rallies as Fed, COVID-19 and recovery worries swirl \| Financial Post](https://feedsoft.ai/events/7695-dollar-rallies-as-fed-covid-19-and-recovery-worries-swirl-financial-post.md) | +0.1% | +1.4% |
| EURUSD | 2019-07-26 | [The Euro-Dollar Rate is In Line for Forecast Downgrades as ECB Eyes Stimulus](https://feedsoft.ai/events/58314-the-euro-dollar-rate-is-in-line-for-forecast-downgrades-as-ecb-eyes-stimulus.md) | -0.8% | -0.6% |

## Sources

- irishtimes.com: https://www.irishtimes.com/business/economy/ecb-boosts-economic-stimulus-package-as-covid-19-hits-recovery-1.4433014

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.