The European Central Bank left its interest rates unchanged as expected. The main lending rate stands at 0% and the deposit rate at -0.40%. The QE program continues as planned: 80€ billion / per month through this month and 60€ billion per month from April and until the end of the year.
The ECB stands ready to increase the size and or duration of the QE program as needed. This is a generic statement that does not move the euro.
Draghi press conference – live coverage
EUR/USD trades around 1.0560, basically unchanged.
The focus now shifts to ECB President Mario Draghi’s press conference. His tone regarding inflation as well as the new staff forecasts published by the Frankfurt-based institution. An upgrade is predicted for 2017 but no changes are on the cards for 2018 and 2019.
Full preview: ECB – acknowledging inflation or ignoring it? That is the question for EUR/USD.
Follow the live coverage with Valeria Bednarik, Mauricio Carrillo and myself:
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