The European Central Bank has left its monetary stimulus programs unchanged ahead of a key meeting of EU leaders on a recovery plan meant to help the economy bounce back from the coronavirus shutdowns. The ECB held off providing new measures today after unleashing massive doses of monetary stimulus in recent weeks that have helped keep borrowing costs for companies and consumers at roughly pre-virus levels. The next big policy news in Europe will come on Friday, when leaders of the 27 EU countries discuss a proposed recovery fund backed by common borrowing. The ECB has urged governments to help support the economy through their spending policies. Rancorous disagreement among leaders over how to deliver the aid could unsettled markets and leading to higher borrowing costs for indebted countries such as Italy.

Source: The Standard July 16, 2020 12:22 UTC