The European Central Bank (ECB) has announced plans to cut back its €2trn quantitative easing programme from €60bn to €30bn a month of bond purchases from January 2018, but the scheme will be extended until September next year or longer if needed.
Bond purchases will continue at €30bn a month for nine months until September 2018 but the ECB said, if the outlook became "less favourable", its Governing Council could increase the asset purchasing programme once again. The ECB said in a statement: "From January 2018 the net asset purchases are intended to continue at a monthly pace of €30bn until the end of September 2018, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim." ECB President Mario Draghi added: "The recalibration i...
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