European Central Bank easing COVID-19 support

The European Central Bank says it is dialling back some of its massive emergency pandemic support for the economy. The move comes amid signs of increasing business activity and consumer readiness to spend as the 19 countries that use the euro rebound from the coronavirus recession. The bank said that it could conduct its bond purchase stimulus at “a moderately lower pace” than in recent months. Since March the statement has said that the bank would purchase bonds at a “significantly higher pace” than in the first quarter.

The $2.2 trillion bond purchase program has no set amount for purchases each month.