Mario Draghi calls for caution as stimulus heads to exit

Starting in Jan, ECB will take a step toward ending one of its more controversial tools by cutting monthly purchases of public & private debt to €30 bn

Mario Draghi warned that the European Central Bank (ECB) will remain cautious even as he put his signature stimulus measure on the road toward an exit.

Starting in January, the ECB will take a step toward ending one of its more controversial tools by cutting monthly purchases of public and private debt to €30 billion ($35 billion), or half the current pace. The shift in stance comes six years into Draghi’s presidency, a new phase after his unprecedented actions to prevent the break-up of the euro area and stave off deflation.

The decision “reflects growing confidence in the gradual convergence