ECB, Interest rate decision
The European central bank is expected to keep both interest and deposit rates unchanged at 0.0% and -0.4% respectively, while it is also expected to review its bond buying program. The current QE program is due to end by March 2017 and the market is widely expected ECB to extend it, but investors are divided whether should expect ECB to decrease the monthly purchase amount, known as tapering. Latter on, the focus will be on the Press Conference as always when interest rates stay on hold and Mr.Draghi is well known as a ‘market mover’ when he talk and answer on questions.
The EUR/USD has recovered from the main support at 1.0500 four days ago after the Italian referendum and it reached the 1.0800 resistance today before the decision. It will be interesting to see the market reaction latter on as always.
12:45 h (London time) > ECB Interest rate decision – Previous 0% > Consensus 0%. Update > 0%!!!
12:45 h (London time) > ECB Deposit rate decison – Previous -0,4% > Consensus –0,4%. Update > -0,4%!!!
>>> QE kept at €80bn until April 2017 then will continue at €60bn until the end of Dec 2017, or beyond if necessary!!!
13:30 h (London time) > ECB Monetary policy statement and Press conference!!! LIVE here