No change, but the ECB tells us that further measures will be released at the press conference. Draghi knows how to build a drama with “Further measures to be announced laterâ€
EUR/USD made a small dip and tension continues. It fell from around 1.1630 to just above 1.1580 before returning to the exact same place.
ECB QE Live Blog – over €1 trillion in total, decentralized but broad consensus – EUR/USD crashes
There were reports about a 50 billion euro per month program, but without a clear timeframe.
The European Central Bank was not expected to change the interest rates. The main lending rate stands at a record low of 0.05% and the deposit rate at -0.20%. The ECB has already said that rates have reached their lower bound and the focus is on the decision about Quantitative Easing: how much will the ECB print? It was unclear if the ECB would make an announcement about QE already at the rate statement or at the press conference.
EUR/USD was trading higher, at around 1.1630, before the publication. The pair dipped around the announcement.
Follow a live blog of the press conference, starting shortly.
