ECB drops easing bias en route to stimulus exit

Frankfurt

THE European Central Bank dropped a long-standing pledge on Thursday to increase its bond buying if needed, taking another small step in weaning the eurozone economy off its protracted stimulus.

Keeping its broader policy unchanged, the ECB said it could still extend its 2.55 trillion euro (S$4.16 trillion) bond purchase scheme beyond September if needed. But it omitted a reference to bigger purchases, a signal that it remains on track to end a three-year-old stimulus scheme before the end of 2018.