ECB’s Latest Stimulus Expected to Have Little Impact on Eurozone Economy

ECB’s Latest Stimulus Expected to Have Little Impact on Eurozone Economy
The headquarters of the European Central Bank (ECB) are pictured in Frankfurt, Germany, on July 8, 2020. Ralph Orlowski/Reuters
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BENGALURU—The European Central Bank’s new policy package will have little effect on the eurozone’s coronavirus-ravaged economy, according to the forecasts of a Reuters poll of economists, who nearly halved their outlook for first-quarter growth.

Despite the ECB’s decision to top up its pandemic emergency purchases by half a trillion euros to 1.85 trillion euros and extend the program for nine months, the bloc’s economic outlook remains bleak.