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The ECB launches a new temporary QE programme to run until the coronavirus crisis is over. The way spreads were exploding, new ECB measures were certainly needed, in the opinion of analysts at Nordea.

Key quotes

“At an emergency meeting last night, the ECB launched a new temporary QE programme totalling EUR 750bn.”

“By its actions and strong wordings, the ECB created space for fiscal policy measures which are key to minimizing the negative impacts of the coronavirus.” 

“We believe today’s actions are an important step in order to push the Italian spreads towards more manageable levels.”

“We think that the ECB is finally at a crisis mode and ready to take actions if needed.”