The European Central Bank will phase out its bond-buying stimulus program at the end of the year.
The program has driven down borrowing costs and supported an economy recovery in the 19 countries that use the euro.
The bank said after Thursday's meeting of its 25-member governing council that the purchases would be reduced to 15 billion euros a month from 30 billion euros from October and then wound up completely in December.
The statement also said its interest rates would not rise until at least summer 2019.
Thursday's decision affirms market expectations for the bond purchases to conclude by year-end after a short period of tapering, and indicates that interest rates will once again become the bank's primary policy tool.
Attention now turns to Mario Draghi's news conference later on Thursday in which the ECB president will provide a fuller explanation of the policy moves and unveil fresh economic projections.
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