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UPDATE 1-Euro pares losses on report ECB would taper bond purchases
October 4, 2016 / 4:26 PM / a year ago

UPDATE 1-Euro pares losses on report ECB would taper bond purchases

(Adds details from Bloomberg report on ECB)

NEW YORK, Oct 4 (Reuters) - The euro turned flat on Tuesday, paring earlier losses, following a Bloomberg report that said the European Central Bank would probably gradually slow its bond purchases before the end of its quantitative easing program.

The single currency was last down 0.2 percent against the dollar at $1.1186, while it rose to a session high versus the yen at 115.37 yen.

The Bloomberg article, citing euro zone central bank officials, said the ECB may wind down its bond purchases by 10 billion euros a month.

ECB’s QE program, worth over 1 trillion euros, may end as early as March 2017.

On Sept. 3, the ECB left its QE program unchanged. It will hold its next policy meeting on Oct. 20. (Reporting by Richard Leong; Editing by Alistair Bell)

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