ECB has decided to hold on to rates = Jun 15, 2018

ECB has decided to hold on to rates. It has also decided to halve the bond purchase programme from Euro 30 billion per month at present to Euro 15 billion per month from Sept 2018. The last month for bond purchase will be Dec 2018. The programme will end in Dec 2018. From Jan 2019, there won 't be any stimulus. It will be crucial to understand, how ECB plans to unwind its balancesheet going forward. There will be some clarity for that in the next six to nine months. So, slowly and steadily, the excesses will be withdrawn from global financial markets. That would be crucial. Economies wont break down, economic activity wont cease but We are sure that valuations across asset classes will keep coming down, once the steriods are out.