Central bankers gathered in Berlin Wednesday confirmed the European Central Bank (ECB) is set to finally discuss the end of its massive bond-buying program — something that its President Mario […]
The European Central Bank on Thursday left interest rates unchanged at historic lows and said its bond-buying programme (quantitative easing, QE) would fall from the present rate of 60 billion euros a month to 30 billion from January to September.
It will continue at 60 billion a month until December. The purchases would continue at least until September 2018.
President Mario Draghi gave little indication about the next steps for monetary policy in the euro zone during a speech on Wednesday ahead of a key meeting between central bankers. The European Central Bank chief seemed to have learned from his own mistakes by avoiding commenting on how and when he might bring monetary stimulus to an end.
Speaking at a conference in Lindau, Germany, Draghi praised economists’ research and said that adjustments to monetary policy are "never easy." However, he made no reference to how the bank might adjust its own policy to the improving economic data across the euro zone, a highly debated issue among market participants.
The European Central Bank (ECB) left its benchmark interest rate unchanged on Thursday and dropped any reference to a future rate cut.
In a statement it said it expected interest rates to "remain at present levels for an extended period of time," but added that it would be ready to extend its quantitative easing (QE) program if needed.