FRANKFURT, Germany – Top officials at the European Central Bank at their last meeting remained wary of prematurely signaling the next steps in an expected exit from their monetary stimulus polices.
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Members of the 25-person governing council that sets monetary policy widely agreed on “the merits of a steady hand in communication” in order to keep markets from anticipating an eventual end to the stimulus and sending interest rates higher in anticipation.
That’s according to the written account of the Dec. 14 meeting, when the council left rates and stimulus unchanged. The bank said in October it would continue its bond purchase stimulus at a reduced rate of 30 billion euros ($36 billion) per month at least through September, but left the exact end date unclear.