European Central Bank ends multitrillion-dollar stimulus program
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.