ECB to reduce monthly asset purchases to €30 billion

Mario Draghi, president of the European Central Bank

The European Central Bank is to reduce the monthly pace of its asset purchase programme (APP) to €30 billion ($35.1 billion) from €60 billion, starting in January 2018. The central bank will also prolong the programme by nine months, until September 2018.

The reduction in the size of the stimulus – which had been expected by analysts – responds to the stronger economic recovery registered in Europe in 2017. “The recalibration of our asset purchases reflects growing confidence in the gradual

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