Draghi Calls for Caution as Flagship Stimulus Heads to Exit

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Mario Draghi warned that the European Central Bank will remain cautious even as he put his signature stimulus measure on the road toward an exit.

Starting in January, the ECB will take a step toward ending one of its more controversial tools by cutting monthly purchases of public and private debt to 30 billion euros ($35 billion), or half the current pace. The shift in stance comes six years into Draghi’s presidency, a new phase after his unprecedented actions to prevent the breakup of the euro area and stave off deflation.

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