ECB PAUSES INTEREST RATE HIKES, WILL END STIMULUS

The European Central Bank said Thursday it will phase out its stimulus program – which is credited with helping the 19 countries that use the euro recover from the financial crisis – at the end of the year. The program has driven down longer-term interest rates for borrowers while pushing up the prices of stocks and bonds. The bank said its interest rates would not rise until at least summer 2019.