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No talk of tapering bond-buying programme - ECB
December 8, 2016 / 2:04 PM / a year ago

No talk of tapering bond-buying programme - ECB

FRANKFURT, Dec 8 (Reuters) - European Central Bank President Mario Draghi dismissed the idea on Thursday that changes in the bank’s asset-purchasing programme meant it was easing off, or tapering the programme.

“There is no question about tapering,” he told a news conference after an ECB meeting. “Tapering was not discussed today.”

The ECB earlier said it was extending its bond-buying plan to December 2017, but lowering the monthly amount bought to 60 billion euros ($64 billion) from 80 billion.

Draghi said the purpose was to show a sustained presence in the market.

Markets are highly sensitive to talk of tapering the programme because of the implication of less liquidity in the financial system. (Reporting by Jeremy Gaunt; Editing by Louise Ireland)

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