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June 4, 2020, 8:11 a.m. EDT

ECB expands PEPP asset-buying program to 1.35 trillion euros

The European Central Bank, as expected, boosted the size of its Pandemic Emergency Purchase Program on Thursday. The ECB said the envelope for asset purchases was increased by 600 billion euros ($674.5 billion), to 1.35 trillion euros. The program is now set to run through at least the end of June 2021, versus the end of 2020, while maturing principal payments from assets purchased under the plan will be reinvested until at least the end of 2022, the ECB said. The ECB left interest rates unchanged, with the deposit rate at -0.5% and the main refinancing rate at 0%. ECB President Christine Lagarde will hold a news conference at 8:30 a.m. Eastern.

Link to MarketWatch's Slice.