European Central Bank monetary policy decision - 10 April 2019

  • Prior decision
  • Main refinancing rate 0.00%
  • Marginal lending facility 0.25%
  • Deposit facility -0.40%
  • Sees rates at present levels at least through the end of 2019
  • And in any case for as long as necessary to ensure sustained convergence of inflation to central bank's target

That's the key line in the statement as the ECB makes no reference to its recently announced TLTROs in the policy decision here. Other than that, the rest of the statement remains the same as the central bank reiterates that it will reinvest QE debt for an extended period of time following the first rate hike.

All eyes will turn towards Draghi's press conference later to offer more details. But if this is anything to go by, he musn't need to be too dovish but he's also not likely to offer much to hawks as well. That said, given the way the euro is behaving, the single currency could inch higher still in the near-term, all else being equal.

For EUR/USD, price remains steady at 1.1278 currently. There's also the US CPI report for March and the FOMC meeting minutes to consider for the pair later today.