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ECB sees no need to taper QE, minutes show

The ECB announced in January that it would begin a 1.14-trillion-euro ($1.3-trillion) programme of quantitative easingThe European Central Bank revealed Thursday that its governing council believes its contested bond purchase programme is working and there is no talk of scaling it back just yet. “Members generally agreed that a steady hand and the firm implementation of the measures decided in January 2015 would best serve to support the economic recovery and a return of inflation towards 2.0 percent,” according to the minutes of the governing council’s meeting on April 14 and 15 released on Thursday. “There was hence no need to consider any change in the monetary policy stance at present”, or to reconsider any of the parameters of the purchase programme, the minutes stated.

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