European Central Bank winds down crisis-era stimulus program
RIGA, Latvia (AP) — The European Central Bank said Thursday it will phase out at year-end the bond-buying stimulus program credited with helping the 19 countries that use the euro recover from the Great Recession and eurozone debt crisis. The bank said after a policy meeting of its 25-member governing council that the stimulus program's bond purchases would be reduced to 15 billion euros ($17.7 billion) a month — from the current 30 billion euros — from October. They would then be wound up completely after December.
