The European Central Bank took the watershed decision to halt its €2.6tn ($3tn) bond-buying programme, capping massive monetary support even though the eurozone economy looks vulnerable again.Policymakers led by president Mario Draghi confirmed that they’ll stop net purchases this month, ending almost four years of quantitative easing. Signalling it’s still a way from tightening policy, the Governing Council changed its guidance to say maturing debt will be reinvested “for an extended period of time past the date when it starts raising the key ECB interest rates.” Rates will remain at record lows “at least through the summer” of 2019.While the …read more
Source: Gulf times
