Christine Lagarde, President of the European Central Bank (ECB), is scheduled to deliver her remarks on the monetary policy outlook in a press conference at 13:30 GMT. The ECB on Thursday has kept interest rates on the main refinancing operations, the marginal lending facility, and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively.
However, the ECB announced that additional LTRO (TLTROs) will be conducted, temporarily, to provide immediate liquidity support to euro area financial system. “A temporary envelope of additional net asset purchases of €120 billion will be added until the end of the year, ensuring a strong contribution from private sector purchase programmes,” the ECB added in its policy stateöemt.
About ECB’s press conference
Following the ECB´s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the EUR, whereas his dovish view is considered as negative, or bearish.