ECB Slows Asset Purchases as Draghi Heads for Stimulus Exit
- ECB president to hold media briefing at 2:30 p.m. in Frankfurt
- Net bond buying extended for 9 months at 30 billion euros
Draghi Says Recalibration of QE Reflects Confidence
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The European Central Bank will reduce its monthly bond purchases next year in a step toward ending a program that has spent more than 2 trillion euros ($2.4 trillion) trying to revive euro-area inflation.
Policy makers agreed to scale back buying to 30 billion euros a month starting in January and continue for nine months until the end of September, a decision that was in line with economists’ estimates. That’ll take its total holdings to at least 2.55 trillion euros.