No surprises after the ECB reached its lower bound: rates remain unchanged.
EUR/USD awaits Mr. Draghi. Will he give any numbers regarding the ABS program? Will he hit the euro when it’s down?
Follow a live blog of the event here.
The European Central Bank was widely expected to leave all the interest rates unchanged: main lending rate at 0.05%, the deposit rate at -0.20% and the marginal lending facility at 0.30%. The bank convenes in Naples, Italy this time, and not in its headquarters in Frankfurt.
EUR/USD traded around 1.2635 before the publication, trading in a steady manner. The focus now moves to the press conference held by ECB president Mario Draghi. Stay tuned for a live blog.
And what will Draghi say? He is likely to provide more details about the ABS program he introduced last month, but probably to avoid giving a total number. In addition, his views about inflation (at terribly low levels) and other topics will grab the headlines.
ECB Preview: Draghi to hit the euro when it’s down? 5 topics to watch out for
