ECB extends QE until end of 2017, but tapers purchases

ECB President Mario Draghi (pictured) said the Bank will continue its QE programme until December 2017 but will taper its bond-buying, adding the process could continue beyond this time if neccessary. From April, the ECB will buy €60bn of bonds a month, down from its currently rate of monthly purchases of €80bn, which will be continued until the end of March. This had been widely expected by the markets previously. Meanwhile, the benchmark refinancing rates have been left unchanged at 0% for the sixth time in a row. The Bank's move follows the referendum on constitutional reform in...