European Central Bank monetary policy decision - 24 January 2019

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  • Prior decision
  • Main refinancing rate 0.00%
  • Marginal lending facility 0.25%
  • Deposit facility -0.40%
  • To keep rates unchanged at least through the summer of 2019
  • Or as long as needed for inflation to converge towards the ECB's target
  • Will reinvest QE debt for extended time after first rate hike
  • Will reinvest maturing debt for as long as necessary

No significant changes to the statement from December. There shouldn't be much for euro bears to harp on the communique here. As expected, the central bank maintains its rate guidance as per last month. All eyes will be on Draghi's press conference now and the risk assessment.

EUR/USD sits at 1.1350 currently, barely changed from the decision here. And in case you're wondering, yes the decision was released earlier by about 30 seconds.