Europe’s central bank to speed up end to economic stimulus

By The Associated Press

The European Central Bank says it will make an early exit from its economic stimulus efforts as it combats record inflation. The move Thursday was a tough choice because the invasion also has exposed Europe to a potential hit to economic growth. But the bank chose higher inflation as the bigger threat, surprising many analysts who had expected no change in the bank’s roadmap for the coming months. The bank says it will end its bond purchases in the third quarter. But it didn’t move up its schedule for a first interest rate increase, dropping a promise that rates would go up shortly after the end of bond purchases.