Dec 13, 2018

European Central Bank ends multitrillion-dollar stimulus program

Mario Draghi, the director of the European Central Bank (ECB), at a press conference in the bank's headquarters in Frankfurt, Germany, 26 October 2017.

ECB president Mario Draghi speaking at a press conference last year. Photo: Arne Dedert via Getty Images

The European Central Bank said Thursday that it will end its nearly 4-year-long $2 trillion bond buying program.

Between the lines: The ECB’s decision to end its stimulus program comes amid concerns about slowing economic growth (the central bank also cut its economic growth forecasts on Thursday). There's also extreme uncertainty surrounding Brexit and Italy’s budget negotiations. However, at a news conference following the decision, ECB president Mario Draghi said reinvestment of cash from maturing bonds, plus guidance about how long the bank will hold interest rates at record low levels, will provide “support” to the economy.

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