European Central Bank takes its pandemic bond buying to 1.35 trillion euros to try to prop up economy

• The European Central Bank (ECB) announced Thursday that it will increase its Pandemic Emergency Purchase Programme (PEPP) by 600 billion euros ($672 billion), as it attempts to bolster the region’s economy following the coronavirus crisis.
• The amount comes on top of 750 billion euros of government bond purchases that the ECB announced in March, taking the total to 1.35 trillion euros. The central bank also said Thursday that the duration of its crisis bond-buying program would be extended from the end of 2020 until June 2021, or until the bank believes the crisis is over.

(Source: CNBC)