ECB to End Bond-Buying Program in December as Crisis-Era Policies Wind Down

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The Latvian central bank in Riga, at which ECB President Mario Draghi gave his conference.

The Latvian central bank in Riga, at which ECB President Mario Draghi gave his conference.


Photo:

Jasper Juinen/Bloomberg News

RIGA, Latvia—The European Central Bank laid out plans Thursday to wind down its €2.5 trillion ($2.9 trillion) bond-buying program by December, but said it didn’t expect to raise rates “at least through the summer of 2019.”

The move draws a line under a contentious policy that at times divided the ECB’s rate-setting committee and provoked sharp criticism from public officials in the currency bloc’s biggest economy, Germany.

…but lags far behind the U.S. central bank in raising interest rates…

Interest-rate targets

Eurozone

U.S.

%

6

5

4