European Central Bank takes measures to stimulate economic recovery

General view of the European Central Bank in Frankfurt, Germany (John Walton/PA)

The European Central Bank said it would step up its bond-purchase stimulus to support an economy whose recovery is expected to lag a year behind the rebound in the US, held back by slow vaccine rollouts and less relief spending by governments.

The central bank for the 19 countries that use the euro said Thursday that over the next quarter the purchases would be conducted “at a significantly higher pace than during the first months of the year”.