The European Central Bank is set to expand its massive stimulus program Thursday as the continent deals with a second wave of the coronavirus pandemic and associated lockdowns.
Back in October, the euro zone’s central bank vowed to “recalibrate its instruments” at its December meeting to respond to the “unfolding situation.” Shortly afterward, new virus lockdowns across the region dented the economic outlook significantly, at least in the short term, as daily infection rates surged. So far, the ECB has refrained from showing too much optimism on the rollout of vaccine candidates, with inoculations likely to begin early next year.
