ECB Sees Initial Progress From Its Bond-Buying Program

Just weeks ago, the European Central Bank began a bond-buying program intended to stimulate the economy and to last at least 18 months. On Wednesday, the bank’s president, Mario Draghi, indicated that the measure had already begun to bear fruit.

The eurozone as he described it is benefiting from a convergence of low oil prices, improved government policy and — not least — the bank’s newest stimulus program.

A bond-buying program begun a month ago is “proceeding smoothly,” Mr. Draghi said at a news conference, which happened to take place on one of the balmiest spring days of the year so far in Frankfurt.

NY Times