The European Central Bank, in Frankfurt, said that growth for this year was likely to come in at 1.9 per cent, lower than previous estimates MICHAEL PROBST/APThe European Central Bank will end its €2.6 trillion bond-buying programme by the end of the year despite fears about sluggish growth in the bloc and a global trade war. In a widely anticipated move, Mario Draghi, president of the central bank, said that it would close its four-year-long quantitative easing scheme, reducing purchases from €15 billion a month to zero. The decision to terminate the programme, which has been credited with invigorating the eurozone’s economy, reflected “the underlying strength of domestic demand [which] continues to underpin the euro area expansion and gradually rising inflation pressures”, Mr Draghi said. The decision comes at a difficult time for the eurozone. Despite an exceptional 2017 and a healthy start to this year, the economy faltered in the…

Source: The Times December 13, 2018 17:03 UTC