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ECB's bond buys will be reduced gradually - Liikanen

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10/30/2017 | 12:15pm CET
European Central Bank announces interest rate decision in Frankfurt

The European Central Bank should maintain the option to extend its 2.55 trillion euro (£2.25 trillion) bond purchase scheme but the buys will be wound down gradually over time, Governing Council member Erkki Liikanen said on Monday.

"Once inflation is consistent with the price stability target in a sustainable way ... we can gradually and carefully go lower,” Liikanen told Finnish public radio YLE when asked if he expected the buys to continue indefinitely.

(Reporting by Jussi Rosendahl; Writing by Balazs Koranyi; Editing by Robin Pomeroy)

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