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EU and UK flags

The second-quarter growth figure was stronger than the 1.5% foreseen by market analysts

Eurotower in Frankfurt am Main before sundown

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