The decision is part of a new approach to monetary policy similar to that of the Federal Reserve
Slow vaccine rollouts and extended lockdowns have delayed the hoped-for recovery
ECB president Christine Lagarde said that the economic outlook in the short term "remains clouded by uncertainty"
Central bank intends to buy bonds at a "significantly higher pace"
Central bank's bond-purchasing program remains unchanged
A winter surge of Covid-19 cases suggests EU economic output will fall again in Q1
European Central Bank announces another 500 billion euros in stimulus
The bank could add a half-trillion euros to its existing bond purchases
Stepped-up restrictions in Europe will hit global GDP
Despite government stimulus, European stocks have been slow to recover