The European Central Bank is keen to keep its asset purchases open-ended rather than setting a potentially distant date on which bond-buying will stop, to retain flexibility in case the outlook sours, three sources familiar with the discussion said.
By not saying when its net bond purchases will fall to zero, the ECB hopes to underline that there is no preset course for its stimulus program, and that any changes remain dependent on economic data, with a special focus on wages, the sources added.
They held up the Federal Reserve’s exit from its asset buying in 2014 as a potential blueprint, noting the U.S. central bank’s unwillingness to publicly target an end-date.
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