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Chart 5. The Eurosystem’s liquidity-providing operations (tender operations and asset purchase programmes)

Non-standard longer-term refinancing operations played a key role in the Eurosystem’s response to the COVID-19 crisis in 2020.

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Monetary policy implemented with tools old and new in 2020

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Original (svg)(Chart 5. The Eurosystem’s liquidity-providing operations (tender operations and asset purchase programmes)) Conversion (jpg)(Chart 5. The Eurosystem’s liquidity-providing operations (tender operations and asset purchase programmes))