According to a majority of economists in a Reuters poll, the European Central Bank (ECB) is likely to announce a reduction of its monthly asset purchases in October, a step towards a complete unwind of its QE program by the end of next year.

Key Findings of the survey:

"Nearly three-fourths of 66 economists in a Reuters poll taken Aug 28-31 expect the central bank to announce a change in October. Just three weeks ago, slightly over half of economists polled had said such an announcement would come in September.

But in the latest poll, only 15 respondents expected it at the Sept 7 policy-setting meeting. The remaining five economists said the central bank will wait until December.

The central bank would extend it but would reduce monthly purchases from the current 60 billion euros. Most said they would be reduced to 40 billion euros a month to start.

Fifty-eight of 63 economists who answered an extra question said the ECB is likely to completely end its QE program by the end of next year, including 10 respondents who expect it to end by June.

The remaining five said it won’t end until 2019."

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