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ECB to end bond buying but pushes out first rate hike


By Gederts Gelzis, Balazs Koranyi and Francesco CanepaRIGA/FRANKFURT (Reuters) - The European Central Bank will shut its hallmark bond purchase scheme by the close of the year, it said on Thursday, taking its biggest step yet towards dismantling crisis-era stimulus a decade after the start of the euro zone's economic downturn.But in a balanced announcement reflecting the uncertainties hanging over the economy, it signalled that any interest rate hike is still distant, raising the prospect that ECB chief Mario Draghi might leave office in October 2019 without having raised rates in his ...

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First Published: Thu, June 14 2018. 21:29 IST