Europe faces tough call on stimulus amid omicron fears

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — The European Central Bank is facing a tough decision Thursday. It’s caught between the scheduled end of its pandemic support program and growing worries that the new omicron variant of the coronavirus might set back hard-won progress in the economic recovery from the pandemic. Experts say the bank will probably confirm it will phase out its pandemic bond purchases but might keep at least some of that stimulus by moving purchases to another program. The meeting comes a day after the U.S. Federal Reserve decided to accelerate its stimulus exit. The Bank of England also is juggling soaring inflation and omicron fears as it gathers Thursday.