The European Central Bank announced its latest monetary policy decision at 1:15 pm GMT today. Bank decided to deliver a 50 basis point rate hike in the first policy decision of 2022. Such an outcome was expected by the markets. The Bank repeated in a statement that it will take meeting-y-meeting approach to setting interest rates. ECB expects rates will rise further significantly but at a steady pace. Most importantly, ECB stressed that it intends to hike by another 50 basis point at March meeting. Pace of reduction in APP bond portfoilio was confirmed at €15 billion per month, starting from March.
EUR and DE30 gained following the decision. Nevertheless, scale of moves was quite small as ECB decision turned out to be in-line with expectations. EURUSD was quick to erase those gains and now trade below pre-announcement levels. Attention now turns to the press conference of ECB President Christine Lagarde, which is set to begin at 1:45 pm GMT.
Start investing today or test a free demoOpen real account Try demo Download mobile app Download mobile app
EURUSD deepens today's slide after ECB decision. The pair jumped above 1.10 mark after FOMC decision yesterday but struggles to maintain momentum. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.