By Geoffrey Smith
Investing.com -- The European Central Bank increased its quantitative easing program through the rest of this year but left its key interest rates unchanged on Thursday, also announcing other measures to support the eurozone economy and banking system.
The ECB said its governing council had decided to increase its asset purchases by as much as 120 billion over the rest of the year, adding to a monthly run rate of 20 billion euros ($22.4 billion) currently.
In addition, it said “Additional longer-term refinancing operations (LTROs) will be conducted, temporarily, to provide immediate liquidity support to the euro area financial system. Although the Governing Council does not see material signs of strains in money markets or liquidity shortages in the banking system, these operations will provide an effective backstop in case of need.”
The euro rose to $1.1269 from $1.1208 immediately before the announcement.
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