ECB announces 750 billion Pandemic Emergence Purchase Programme (PEPP)

There isn’t any good news yet, as death toll are more than 3000 in the most affected country by the coronavirus outbreack outside China. Unfortunately, on  18 and 19 March, Italy reported the biggest daily jump in terms of coronavirus death since the contagion. And while Italians are sending optimistc messages from their windows, nearly 220,000 people have now been confirmed with the coronavirus infection globally.

Most countries around the world have been imposing Italian-style lockdown in bid to contain coronavirus outbreack.

As mentioned by WHO Director General, T.A. Ghebreyesus, this will be the first pandemic in history that could be controlled. Governments around the world have no choice but to ban on any movement and avoid contacts. All bars and shops have been closed, with the exception of grocery stores and pharmacies. From a global perspective, a steady recession is inevitable. Weakened demand caused by coronavirus outbreack has slowed down manifacturing activity. And This has led to weakened demand for oil causing prices to fall sharply.

Meanwhile, European Central Bank announces 750 billion Pandemic Emergence Purchase Programme (PEPP), which may help the process of normalizing as soon as coronavirus outbreack slows.

Thanks to all the people who are working for us in these difficult days. Thanks to doctors, nurses, food workers, delivery drivers, grocery clerks, police officers, firemen and all other people who are fighting for us. And last but not least, staying at home can make a huge contribution to fighting coronavirus outbreak.