FRANKFURT—The European Central Bank said it would slightly scale back its massive bond-buying program amid robust economic growth and inflation in the eurozone, turning the corner on its stimulus despite a resurgence in Covid-19 cases globally and signs of slowdowns in China and the U.S. that have prompted caution from the Federal Reserve.

While the ECB’s move isn’t yet a plan to end its easy-money policies, it does signal the bank’s confidence in the eurozone economy’s ability to weather the rise of Covid-19 infections due to the Delta variant, with business and consumer confidence remaining buoyant.

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