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The European Central Bank announced on Thursday that it would extend its bond purchases at a reduced rate.
The ECB would cut monthly asset purchases euro from 60 billion euros to 30 billion starting from January while also extending the scheme by 9 months to September. The central bank is ready to increase purchases if the outlook becomes less favorable.
In his opening statement, Mario Draghi underlined that domestic price pressures remain muted and ample degree of monetary policy stimulus is still necessary. At the same time, risks remain broadly balanced and economic expansion continues to be solid and broad-based.
Answering the journalists’ questions at the press conference, Draghi said that the ECB decision wasn’t unanimous. The 'large majority' of members preferred to keep bond buys open-ended. At the same time, central banker didn’t appear to rule out a rate hike in 2019.
The announcement was in line with the market’s expectations. EUR/USD from 1.1800 to 1.1740.
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The Federal open market committee (FOMC) will make its monetary policy statement and announce the interest rate on March 20, 20:00 MT time.
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Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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