ECB calls halt to quantitative easing, despite 'soft' euro

Wind-down in three-year bond buying programme balanced with a hold on interest rates

The European Central Bank has shrugged off evidence of a slowdown in the eurozone and announced that it will phase out the stimulus provided by its massive three-year bond-buying programme to the eurozone economy by the end of the year.

Despite warning that the single currency area was going through a soft patch at a time when protectionist risks were rising, the ECB said it would wind down its bond purchases over the next six months.