ECB surprises with faster stimulus exit

Move shows it’s more concerned about record inflation

FRANKFURT: The European Central Bank (ECB) unexpectedly accelerated its wind-down of monetary stimulus, signalling it’s more concerned about record inflation than weaker economic growth as Russia’s invasion of Ukraine threatens to propel prices even higher.

Calling the war a “watershed” moment for Europe, ECB officials pledged to slow bond buying from the start of May, and said they could halt the programme as soon as the third quarter.