The ECB Leaves Policy Unchanged January 2016

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As widely expected, the European Central Bank left the interest rate unchanged at 0.05% and the deposit rate at -0.30%. There is no announcement of further details to come in the press conference. EUR/USD rises within the range.

More: Draghi Drags EUR/USD down on downside risks

The European Central Bank was not expected to change policy in its first decision for 2016. In December, Draghi and his colleagues announced a cut in the deposit rate, an extension of QE and reinvestment of proceeds, but this was not enough for the expectations he had created, and eventually EUR/USD made an amazing upside move. The focus shifts to the press conference.

EUR/USD was hugging 1.09 before the publication.

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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