Inflation are likely to remain low: ECB's Draghi Inflation likely to remain low: ECB's Draghi
Thursday, 8 Sep 2016 | 7:33 AM ET | 03:16
The European Central Bank (ECB) surprised markets on Thursday by failing to extend the deadline for its trillion-euro bond-buying program.
Expectations were high the central bank would prolonging the program beyond its current deadline of March 2017, but it did not do so.
The euro zone STOXX 50 index fell on the news, but the euro rose slightly against the U.S. dollar to near a two-week high. The yields on German benchmark 10-year Bunds turned slightly less negative.
ECB President Mario Draghi said the central bank did not discuss extending the program at its latest monetary policy meeting.
"Our program is effective and we should focus on its implementation," he said at his regular post-decision media conference on Thursday.