ECB press conference: live coverage

ECB press conference: live coverage

As expected, the European Central Bank left monetary policy unchanged. The ECB increased GDP growth forecast from 2.3% to 2.4%. At the same time, the regulator pointed out that protectionist policies create negative risks. Inflation is expected to remain subdued this year. Inflation forecast for 2019 was reduced from 1.5% to 1.4%.  

At the press conference, the ECB President Mario Draghi the ECB still expects the interest rate to remain at the current level for a long time.

The ECB has removed the sentence “If the outlook becomes less favorable… we stand ready to increase the asset purchase program in terms of side and/or duration” from its statement. According to Draghi, this move of the ECB doesn’t signal any policy changes. Actually, the regulator members didn’t discuss the changes much.

Draghi also claimed that what happened recently is not a trade war yet.

EUR/USD spiked to 1.2445 before sliding to 1.2410.



Weak USD, Gold and China's Stocks Recover
Weak USD, Gold and China's Stocks Recover

The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!

Latest news

The USD Awaits Key Jobs Data
The USD Awaits Key Jobs Data

The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.

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