October 26, 2017 / 12:43 PM / a month ago

HIGHLIGHTS-Draghi comments at ECB press conference

FRANKFURT, Oct 26 (Reuters) - The European Central Bank, taking its biggest step yet in weaning the euro zone off years of stimulus, announced on Thursday it was cutting its monthly bond buying, but hedging its bets, also extended the programme’s lifespan.

Following are highlights of ECB President Mario Draghi’s comments at a post-policy meeting press conference.

VERY SUBSTANTIAL ACCOMMODATION

“Today’s monetary policy decisions were taken to preserve the very favourable financing conditions that are still needed for a sustained return of inflation rates towards (target).” (EMEA News Desk)

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