Highlights of the ECB meeting and press conference.

The European Central Banks left its key interest rates. The Council decided to remain the rates at the present levels for an extended period of time, and well past the horizon of the net asset purchase.

 The asset purchase program is left at 60 bln of euros per month. It will be run until the end of December 2017, or beyond, if necessary, until the ECB’s policymakers sees a sustained adjustment in the path of inflation consistent with their target.

Press Conference

• Assets purchases are still need; they will be maintained until sustained inflation around the 2% level.  
• There is a stronger momentum in the euro area economic growth
• Risks to the growth outlook is broadly balanced
• If growth projections are distorted, the ECB is ready to increase its asset purchase program in size and duration
• ECB growth outlook has been revised upwards.
• HICP was volatility due to temporal increases in energy and services prices.  
• The inflation headline will remain at current level in the upcoming months, there is no convincing sign of pickup
• The ECB policymakers expect only gradually rise in inflation figures  
• Inflation expectations are revised downwards, while the growth expectations – upwards.

The euro moved a little bit lower against the USD on the lowering of the inflation estimates by the ECB policymakers.

Similar

02.09.2022 17:18 Upcoming Cold winter and Burning Energy Prices, What will Europe do?

The EU plans to intervene in markets directly to curb rising energy costs, threatening to push the Euro area's economy into a deep recession.

19.08.2022 15:19 Oil Prices Might Cause Another Inflation Wave

US oil exports reached a record last week at five million barrels a day, according to Energy Information Administration data…

05.08.2022 16:28 What Can Drive Oil below $90 a Barrel?

The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.

Latest news

06.02.2023 20:39 Best Instruments to Trade This Week

This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.

02.02.2023 10:24 European Currencies Ahead of the Banks' Statements

On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.

31.01.2023 13:09 Will the FOMC Surprise the Markets?

The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?