European Central Bank Announce Another 500 Billion QE Programme

The European Central Bank announced today that it will continue its quantitative easing programme with another half-trillion Euros ($579 billion) as the Eurozone economy continues its recovery. 
The bank's 25-member governing council extended the duration of its bond-buying stimulus program by at least nine months, from March until December next year, AP reported. The surprise was that the bank decided to reduce its programme to 60 billion euros ($64 billion) from 80 billion euros currently. 
ECB President Mario Draghi said the reduction did not mean the bank was tapering, or phasing out, the stimulus. 
Draghi said the central bank could increase the monthly purchases if needed and that there is still no firm end date for the stimulus program.