- ECB left rates unchanged, as expected
- EUR/USD trades lower around 1.1700 .
- Markets’ attention now shifts to Lagarde’s usual press conference.
The Euro remained dispirited after the ECB rate decision on Thursday, EUR/USD keeping the pair around 1.17.
EUR/USD steady ECB
EUR/USD trades around 1.17the lower end of the weekly range, after the ECB left its monetary policy unchanged as expected.
The ECB left unchanged interest rate on the main refinancing operations at 0%, the interest rate on the marginal lending facility at 0.25% and the deposit facility at -0.50%..
The ECB left the PEPP bond buying programme at €1.5 trillion, unchanged and which is expected to run until at least June next year. Furthermore, the ECB indicated that the updated projections to be released in December should help recalibrating the stimulus. The ECB sees interest rates remaining at current or even lower levels until the inflation outlook converges with the bank’s target.
President Christine Lagarde’s press conference and the subsequent Q&A session are now in focus.