ECB cuts size of asset buys to 60b euros but extends duration till end-2017

Frankfurt

THE European Central Bank unexpectedly reduced its asset buys on Thursday but reserved the right to increase purchases once again, a decision that may be seen as a concession to conservative eurozone members such as Germany.

The ECB will reduce its asset buys to 60 billion euros (S$92 billion) from next April from the current 80 billion euros, maintaining the buys until the end of the year.