European Central Bank sticks to plan to end stimulus
The bank said its bond-buying stimulus program – scaled back this month to 15 billion euros a month – will end in December
FRANKFURT – The European Central Bank says it is staying on course to wrap up its 2.5 trillion euro ($2.85 trillion) stimulus program at the end of the year, even as risks loom ever larger for to the 19-country eurozone’s economy.
The bank left interest rates and its path to stimulus exit unchanged at its meeting Thursday at its skyscraper headquarters in Frankfurt, Germany.
It reiterated in a policy statement that its bond-buying stimulus program – scaled back this month to 15 billion euros a month – will end in December.
At his subsequent news conference, bank head Mario Draghi is expected to assess risks from Britain possibly leaving the European Union without a negotiated exit deal, increasing trade protectionism, and Italy’s dispute with EU authorities over its spending plans.