ECB reaffirms it will end stimulus program this year

The European Central Bank (ECB) reaffirmed on Thursday that it will end its €2.6 trillion stimulus program this year. The ECB said the risks from an unpredictable global trade conflict didn’t warrant any deviation from its plan. ECB chief Mario Draghi said there had been no change in the bank’s message as it kept the Eurozone’s interest rates at a record low – zero for its main borrowing rate and a sub-zero -0.4 percent for banks that park cash at the ECB, Reuters reports. The bank still plans to slow down and then wrap up its lavish asset purchases by the end of the year and sees rates staying on hold for another year.