Draghi warns more stimulus may be needed
At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.30% respectively.
European Central bank boss Mario Draghi warned that downside risks were increasing again and more stimulus might be necessary, causing a sharp move in equity and currency markets.
"It will therefore be necessary to review and possibly reconsider our monetary policy stance at our next meeting in March," Draghi told at the following news conference, making it clear that things had changed since December as oil prices fell sharply.
Euro is currently being traded around 1.0810 area. Pair is likely to find support around 1.0750 handle and resistance above 1.0880 level. There will be no major data releases in the rest of the session.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419