ECB to discuss monetary policy

European Central Bank policymakers are to decide whether they will scale back on their extraordinary monetary stimulus program.

Policymakers are to meet at the bank’s headquarters in Frankfurt, Germany, on Thursday.

The ECB has been taking unusual steps to kick-start the economy by supplying money to the markets through purchases of government bonds and other assets, and dropping the deposit rate to negative territory.

As a result, moderate economic recovery has continued within the eurozone. Inflationary trends have prompted appeals to cut back on the central bank’s easing measures.

ECB President Mario Draghi last month told reporters that policymakers will decide on the bank’s next step at Thursday’s meeting.

Market sources say the central bank may trim its asset purchases beginning in January of next year.

The US Federal Reserve Board’s policymakers last month agreed to gradually unwind the massive balance sheet that ballooned under its quantitative-easing program.NHK

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