The ECB ends QE but strengthens its forward guidance
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The ECB announced that after a 3-month tapering period it would halt quantitative easing (QE) at the end of December 2018.
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Its biggest decision, however, was to switch to Odyssean forward guidance: the ECB announced that it does not expect to raise its key rates before summer 2019.
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The June policy meeting demonstrated the ECB's growing confidence in the convergence of inflation with its medium-term target, although this movement will still need major monetary support.
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