March 19, 2020 / 2:07 PM / 17 days ago

ECB's Panetta says new bond purchase programme shows strong commitment to help EU

ROME, March 19 (Reuters) - The new emergency bond purchase program (PEPP) announced by the European Central Bank shows a strong commitment to ensure support to both Italian and European economies, ECB’s board member Fabio Panetta said on Thursday.

“There’s no limit to what we can do to keep the European economy on the path of growth,” Panetta told state broadcaster Rai, echoing similar remarks made by ECB President Christine Lagarde.

The ECB launched a new, dedicated bond-purchase scheme, bringing its planned purchases for this year to 1.1 trillion euro with the newly-agreed buys alone worth 6% of the euro area’s GDP.

Reporting by Giuseppe Fonte, editing by Giulia Segreti ECB

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