European Central Bank leaves pandemic stimulus unchanged

The European Central Bank has decided to keep its pandemic stimulus efforts unchanged even as consumer prices spike and central banks in other parts of the world look to dial back support as their economies bounce back from the worst of the COVID-19 outbreak.

The decision Thursday affects the 19 European Union countries that use the euro currency and sets up a debate in December about whether and how to end the 1.85 trillion euro (USD2.14 trillion) stimulus program.

The bond purchase program drove down longer-term borrowing costs for businesses as they weathered shutdowns and for governments as they spent more for pandemic support. It is slated to run at least through March 2022.

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