ECB Governing Council, Euro Talking Points
- ECB main interest rate remained unchanged – as expected
- Today marks the first interest rate meeting of the Governing Council in 2022
- Record high inflation (5.1% for January) tests the ECB’s ‘lower inflation’ forecasts
- Slowing economic growth may be referenced in support of continued stimulus
ECB Main Refinancing Rate 0%, Deposit Facility -0.5%, Lending Facility 0.25%
Customize and filter live economic data via our DaliyFX economic calendar[1]
Markets largely expected rates to remain on hold and therefore there has been little volatility in EUR/USD[2] shortly after the announcement.
Source: IG, prepared by Richard Snow[5]
Considering the BoE rate[6] hike moments earlier, it’s no surprise that EUR/GBP[7] trades slightly lower after the release.
Source: IG, prepared by Richard Snow[9]
--- Written by Richard Snow for DailyFX.com
Contact and follow Richard on Twitter: @RichardSnowFX[10]
DailyFX[11] provides forex news and technical analysis on the trends that influence the global currency markets.
