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Bloomberg
UBS Group AG Chairman Axel Weber said he expects the European Central Bank to move toward tapering its quantitative easing program around September.
The comments by the former Bundesbank president come as ECB President Mario Draghi is under pressure to map out a path toward the end of the central bank’s massive stimulus. As the euro-area economy has picked up in recent months, ECB officials have been publicly debating when they might start to wind down their asset purchases and raise interest rates.
The ECB has to “scale back,” Weber said on Tuesday. “My expectation is that in June they will remove some of their easing biases that they still have in their language, and around September they will probably announce that they are going to taper their purchase program, which they will do over six to nine months in 2018,” he said.