In line with expectations the European Central Bank decided to maintain all interest rates unchanged. Key points from the statement are as follows:
- QE will be extended by 9 months till September 2018 at a lowered pace equals 30 billion EUR (cut from 60 billion EUR per month until the end of the year)
- ECB reiterates pledge to reinvest maturing QE assets
- QE can be increased in size, duration if outlook worsens
- QE to run until inflation path has sustainably adjusted
The EURUSD is sliding following the ECB decision even as it’s been in line with expectations both in terms of rates as well as the QE program. Source: xStation5
Mario Draghi is scheduled to kick off his press conference at 1:30 pm BST.