European Central Bank escalated its efforts to shield the eurozone from a possible double-dip recession with another burst of monetary stimulus to lock in low-interest rates at least until the pandemic crisis is over.Policymakers increased and extended emergency bond purchases, and approved more/cheaper long-term loans to banks/on even cheaper terms.
The euro jumped.ECB President Christine Lagarde will hold a press conference call at 2:30 pm in Frankfurt, when she will also unveil new economic projections with a first outlook for 2023.The decision came as European Union leaders moved closer to resolving a dispute over a €1.8 trillion joint fiscal package that would put the region on a firmer footing for 2021.The ECB aims to keep financial.