ECB hikes in-line with expectations, EUR drops, DE30 gains
The European Central Bank delivered a 75 basis point rate hike, in-line with market expectations. Statement also showed that interest rates are expected to continue to rise in the coming months. ECB also announced that it will change terms of TLTRO loans with details being announced at 2:45 pm BST.
Initial reaction shows that the market considered the decision as dovish - EURUSD moved lower while ticked higher. However, big part of the move has been erased since.
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EURUSD moved lower in a knee-jerk reaction after an in-line ECB rate hike. However, move has been almost fully erased since. Attention turns to Lagarde's presser at 1:45 pm BST. Source: xStation5
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