FRANKFURT, Germany – Top officials at the European Central Bank at their last meeting had broadly agreed that the economy still needs "very substantial" stimulus — even as they are looking ahead to starting to dial back their support efforts next year.
The written account of the Sept. 7 meeting indicated the bank would only move slowly in phasing out its 60 billion euros ($71 billion) in monthly bond purchases next year.
The account released Thursday showed that there was "broad agreement" that the 19-country eurozone economy still needs extra help despite strengthening growth. Officials expected growth to push inflation closer to their target of just under 2 percent.
Officials thought that "inflation dynamics remain subdued" despite monthly injections of newly printed money into the financial system through bond purchases since March, 2015.
Fox News' "Antisemitism Exposed" newsletter brings you stories on the rising anti-Jewish prejudice across the U.S. and the world.