Draghi is dovish – no yield limit, downside risks-

Draghi adds fuel to the fire: no deposit rate limit for bond buys from January. In addition, he talks about downside risks. This weighs heavily on the euro. Maturities are wide: 1-30 years. The ECB can extend the program beyond 2017 and re-increase the scale above 60 billion euros. This comes after the big announcement earlier. 

The ECB announced a tapering of the QE program to 60 billion from April. The program will run through December 2017. 9×60 instead of 6×80. The total is more money printing. 

Analysis: Draghi’s 5 dovish moves – more falls for EUR/USD?

More details await in the live blog and live coverage below.

ECB Live Blog – as it happened

ECB Live Coverage

Get the 5 most predictable currency pairs