ECB Minutes Signal Pivot on Stimulus, Sending Euro Higher

Bank could phase out QE program before inflation reaches target of just below 2%

FRANKFURT—The European Central Bank indicated Thursday that it might move sooner than investors had expected to phase out its giant bond-buying program, sending the euro and eurozone government bond yields higher.

The ECB’s change of course comes amid a sharp rebound across the 19-nation eurozone economy, which has sparked a public dispute among top ECB officials over whether their stimulus policies have become too aggressive.

The...

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