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ECB Keeps Rates Policy Unchanged, Confirms APP Will End in Q3

ECB

ECB keep all three major interest rates unchanged, as expected and confirm that the APP will conclude in Q3 this year.


Key part of the statement:

  • The Governing Council judged that the incoming data since its last meeting reinforce its expectation that net asset purchases under its asset purchase programme should be concluded in the third quarter.
  • Looking ahead, the ECB’s monetary policy will depend on the incoming data and the Governing Council’s evolving assessment of the outlook. In the current conditions of high uncertainty, the Governing Council will maintain optionality, gradualism and flexibility in the conduct of monetary policy.
  • The Governing Council will take whatever action is needed to fulfil the ECB’s mandate to pursue price stability and to contribute to safeguarding financial stability."
Full policy statement here
EUR offer in the initial response, with Bund futures seeing immediate support as the decision seen as not as hawkish as expected. EUR/USD slips to touch 1.0871 before stabilising somewhat, while the front month Bund futures contract trades either side of 155.75, having added around 50 ticks on the decision.
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EM BulletHomepagemarkets-real-timeFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

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