The European Central Bank (ECB) still plans to gradually cut back on its bond-buying program from the start of 2018, minutes from meetings confirmed. Sluggish wage growth and a strong euro have failed to put the governing council off preparations to rein in quantitative easing efforts in the new year, according to the accounts from the September 6 and 7 meetings.
Citing “solid and broad based economic expansion” in the eurozone economy, the council were positive about the outlook for the region’s economic growth. The governing council said they expected the key ECB interest rates to remain at their present levels for an “extended period of time”, and “well past the horizon” of changes to quantitative easing efforts.