The ECB leaves all its policy measures unchanged. The QE program remains at 60 billion euros per month, the interest rate at 0% and the deposit rate at -0.40%.
The interesting change was that the ECB dropped its reference to lower rates in the future. They previously stated that rates will remain at present or lower levels. Now they talk only about present levels.
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This helped the euro only temporarily. Draghi is awaited now.
EUR/USD is moving with extended volatility, rising to 1.1262 and falling to 1.1220. Volatility is stronger in the pair.
Preview: ECB Preview: balanced risks could provide a buying opportunity – 3 scenarios
This is the key phrase:
The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases
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