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ECB ready to ease monetary policy further

The European Central Bank is willing to ease monetary policy further, according to three top officials including its president, who echoed his U.S. peers’ concerns about an uncertain outlook for the global economy. This year would be another challenging one for the ECB, Mario Draghi wrote in its annual report released on Thursday. “We face uncertainty about the outlook for the global economy. We face continued disinflationary forces. And we face questions about the direction of Europe and its resilience to new shocks,” he wrote.
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Steadier Monday's session ahead of quite volatile week

It is a quite Monday's session with no major data releases. However, this is just beginning of the week which will have central banks in focus, in particular FOMC Meeting. Monday is looking rather quiet but gives markets another opportunity to properly absorb last week’s ECB announcement before other central banks steal the spotlight. Europe is expected to open a little higher, building on Friday’s gains and taking a lead from the positive session in Asia overnight.
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ECB cut interest rates, but sees no need for further cut

The ECB said it was lowering its benchmark interest rate to a record-low 0.0% from 0.05%, surprising market players who were expecting no change. The central bank also cut its deposit facility rate to -0.4% from -0.3%, in line with market expectations. Meanwhile, the central bank reduced its marginal lending rate to 0.35% from 0.30%. 
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Euro falling ahead of tomorrow's ECB Meeting

There were no data releases from the Eurozone today. Selling pressures are likely to have increased on the euro, as there is ambiguity over the course of action that the European Central Bank (ECB) will take at their policy meeting, which will take place in Frankfurt tomorrow.
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