The European Central Bank is reflected in a scooter mirror during a press conference of ECB President Mario Draghi in Frankfurt, Germany, Thursday, Oct. 26, 2017. (Michael Probst/Associated Press)FRANKFURT, Germany — A member of the European Central Bank’s rate-setting committee has criticized the bank’s decision to leave its bond-buying stimulus program running without a clear end date. ECB President Mario Draghi said Thursday there was a “large majority” in the governing council in favor of leaving the purchases open-ended. The governing council decided to lower the level of purchases from 60 billion euros ($71 billion) a month to 30 billion starting in January, and extend them at the lower level until September — and longer if necessary. The bank, the monetary authority for the 19 countries that use the euro as currency, is easing back on stimulus as the economy shows stronger growth.

Source: Washington Post October 27, 2017 12:48 UTC