Bloomberg.- The European Central Bank maintained its pledge to move slowly in removing euro-area stimulus, setting the stage for President Mario Draghi to face questions on the strength of the single currency.
Policy makers reiterated that they’ll continue buying 30 billion euros ($37 billion) of assets a month until at least the end of September. They kept interest rates unchanged and repeated that they expect borrowing costs to stay at present levels until well past the end of net bond purchases.
They also repeated their pledge to step up or extend the program if needed, and stressed that additional support will come from their policy of reinvesting maturing debt. Attention now turns to Draghi’s press conference at 2:30 p.m. in Frankfurt. The euro was little changed at $1.2404 at 1:57 p.m.
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