The European Central Bank on Thursday said it would further slow purchases of assets under its Pandemic Emergency Purchase Program, or PEPP, in the first quarter of next year and bring them to a halt in March.
The ECB said it would double the pace of asset buying under its longer running Asset Purchase Program to 40 billion euros a month in the second quarter of next year, scaling it back to 30 billion euros in the third quarter and returning to the 20 billion euro a month pace in the fourth quarter. The ECB left interest rates unchanged.
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