# The impact of the ECB’s monetary policy measures taken in response to the COVID-19 crisis

> An ECB Economic Bulletin box assesses the central bank's pandemic response, focusing on asset purchases and TLTRO III. It concludes that the measures stabilised markets, supported credit provision and kept policy accommodative, and that they are expected to help inflation move toward levels just below 2%.

- Date: 2020-07-30 · published 2020-07-30T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/52337-the-impact-of-the-ecb-s-monetary-policy-measures-taken-in-response-to-the-covid
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Accommodative euro-area policy supports the euro and broader financial conditions, but the analysis has no direct effect on feed commodity prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2018-05-04 | [Past and future of the ECB monetary policy](https://feedsoft.ai/events/65223-past-and-future-of-the-ecb-monetary-policy.md) | -0.6% | -2.4% |
| EURUSD | 2017-11-13 | [Economic recovery and the new phase of monetary policy](https://feedsoft.ai/events/68191-economic-recovery-and-the-new-phase-of-monetary-policy.md) | +1.3% | +1.3% |
| EURUSD | 2020-01-23 | [ECB launches review of its monetary policy strategy](https://feedsoft.ai/events/55289-ecb-launches-review-of-its-monetary-policy-strategy.md) | -0.7% | -2.6% |
| EURUSD | 2018-10-11 | [Account of the monetary policy meeting](https://feedsoft.ai/events/62757-account-of-the-monetary-policy-meeting.md) | -0.0% | -0.7% |
| EURUSD | 2019-08-22 | [Account of the monetary policy meeting](https://feedsoft.ai/events/57801-account-of-the-monetary-policy-meeting.md) | -0.1% | -0.5% |

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/economic-bulletin/focus/2020/html/ecb.ebbox202005%5F03~12b5ff68bf.en.html

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