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8th March 2018
ECB signals end to 'easing bias'

The European Central Bank (ECB) has today ended its commitment to intervening in the event of disappointing economic growth and buying more bonds through its considerable quantitative easing (QE) programme. European interest rates were kept on hold, however. As the central bank signalled this change of stance regarding QE, the Euro rose strongly against peers, briefly, before letting go of the gains. European stock markets reacted positively to the news, taking the statement as a confirmation of European economic strength and leaving the broad Euro Stoxx 50 index up nearly 1 per cent. Meanwhile, less risky European government debt was being sold as risk appetite increased. In the same press release, ECB president, Mario Draghi, criticised President Donald Trump's recent decision to seek new trade tariffs on steel and aluminium imports to the US, underlining that unilateral decisions are dangerous for international relations.