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Thursday, December 12, 2019

NewsBreak - ECB Holds Steady, Focus Turns to Lagarde

© Reuters.  © Reuters.

Investing.com - The European Central Bank left key rates on hold on Thursday, at its first meeting chaired by new president Christine Lagarde.

  • Attention will now turn to Lagarde’s first press conference at 08:30 AM ET (01:30 GMT) as investors look for clues about the future of stimulus plans
    • Deposit rate facility remains at -0.50%
    • Main refinancing rate remains at 0.00%
    • Marginal lending facility remains at 0.25%
  • Rates to remain at present or lower levels until inflation outlook robustly converges to a level sufficiently close to, but below 2%, ECB statement says
  • Bond buying to continue until "shortly before" rates are raised
  • Expects QE to run "for as long as necessary"
  • EUR/USD at 1.1130 from around 1.1132 ahead of the announcement
  • EUR/GBP at 0.8456 from 0.8451 earlier
  • Original Article
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