- The ECB left its key benchmark interest rates unchanged.
- The ECB reiterates to keep rates at current or lower levels.
- Focus on update economic projections, Lagarde’s comments.
The shared currency moved little, with the EUR/USD pair holding steady around the 1.1130 region post-ECB announcement.
As was widely expected, the European Central Bank (ECB) maintained status-quo and left interest rates unchanged at its December meeting, the first under the leadership of Christine Lagarde.
In the accompanying rate statement, the ECB reiterated that rates will remain at present or lower levels until inflation outlook robustly converges to a level sufficiently close to, but below 2%.
The pair, however, had a rather muted reaction as investors now look forward to the outcome of the Strategy Review and the latest staff projections for a fresh impetus.
This coupled with Lagarde’s comments at the post-meeting press conference – especially in the Q&A session – might further influence the shared currency and produce some meaningful trading opportunities.
Technical levels to watch
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