European Central Bank rate decision - 14 Dec 2017
- Main refinancing rate remains at 0.00%
- Marginal lending facility remains at 0.25%
- Deposit facility rate remains at -0.40%
- Asset purchase target (QE) remains at EUR 30bn from Jan 2018 to Sept 2018
As expected, all unchanged. Here are the headlines:
- Sees QE running until Sept 2018 or beyond if needed
- QE can be increased in size, duration if outlook worsens
- Expects key interest rates to remain at present levels for an extended period of time, well past the horizon of QE
- Draghi will comment on the considerations underlying the decision later at the press conference
Nothing substantial from the ECB statement. EUR/USD slightly lower on the decision by about 10 pips to 1.1826 now.
Update (1252 GMT): EUR/USD rightfully unphased, now at 1.1832. Not expecting any major movements up until the presser later.
As I mentioned, just look out for the Q&A with Draghi later and the details on the ECB projections.
You can view the Q&A here.