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European Central Bank to unveil plan to ease off stimulus

Posted October 26, 2017 7:00 am

The Associated Press

The lights in the offices of the European Central Bank shine in Frankfurt, Germany, early Wednesday, Oct. 25, 2017. The governing council of the ECB will meet on Thursday.(AP Photo/Michael Probst) The Associated Press

FRANKFURT, Germany (AP) - The European Central Bank is expected to say how it plans to ease back next year on its stimulus programs that are credited with a boom in the 19-country eurozone.

The bank will decide Thursday how quickly to reduce the 60 billion euros ($71 billion) in monthly bond purchases. The program injects new money into the economy and pushes borrowing rates down in the wider economy.

Markets will be watching how aggressively the ECB decides to taper off the purchases, including how much longer it expects them to run. Currently they're slated to run until at least the end of this year.

The decisions could be outlined in a statement, followed by a fuller explanation in a news conference.

The ECB is otherwise expected to leave its key rates unchanged.

The top of the skyline of the banking district is still in the fog at the Main river in Frankfurt, Germany, early Wednesday, Oct. 25, 2017. (AP Photo/Michael Probst) The Associated Press

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