>> 2.6 trillion euros or about 3 trillion dollars. That's how much the European central bank has spent buying bonds over the past four years. On Thursday it said the spending spree was ending, mission accomplished.>> Especially some parts of this period of time, QE has been the only driver of this recovery.
>> The pile of government and corporate debt was acquired in the name of so called quantitative leasing. Flushing money through the Euros to stock price is falling in the wake of the regions of debt crisis. But did it work which our corresponded Dhara Ranasinghe.>> Some people would say yes, because the ECB has successfully fought off deflation, essentially falling prices that are bad for economic grave.
And also, the economy is recovering, wages are picking up, lending is good. At the same time, inflation is subdued which is a concern for the central bank.>> The headline 2.6 trillion hides other startling figures. It equates to about 1.3 million Euros per minute, for four years. All told about 7,600 Euros for every person in the single currency zone.
Now the ECB has a clear exit strategy.>> That there will still be a lot of stimulus in the economy for some time. Interest rates for instance our record lows at minus 40 basis points, and ECBs made clear that a rate hike is very unlikely until this time next year probably.
>> The end of QE does come at a tricky moment. After 20 quarters of growth, the eurozone economy shows signs of slowing. Then there is turmoil in Italy over a deficit busting budget plan. And trouble next door in the shape of Brexit. Europe Central Bank wants to avoid any new fireworks of its own.