German biz confidence at all-time high ahead of ECB meeting

FAN Editor

A survey of German business confidence has matched its all-time high, providing more upbeat data ahead of the European Central Bank’s policy meeting.

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The bank’s governing council gathers as markets wait for clues from bank president Mario Draghi at a news conference on how long the ECB will continue its bond-purchase stimulus now that growth is strong.

The bank says it’ll keep buying 30 billion euros ($36 billion) per month in bonds at least through September. The step pumps newly printed money into the economy to raise still-weak inflation. No changes are expected Thursday.

Germany’s Ifo index rose to 117.6 points in January from 117.2 in December, matching an all-time high from November. The reading follows business activity surveys that also show a strong upswing in the 19-country eurozone.

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