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Single Currency Spikes, Bunds Drop as ECB Accelerate Bond Buy Wind Down

ECB

EUR sees immediate spike higher on the ECB's decision to accelerate the wind down of their asset purchase programme. EUR/USD shows briefly through the earlier session highs - touching 1.1108 at typing. Meanwhile, Bunds move lower, hitting 162.58 before stabilising somewhat.


Key phrases here:


  • "Monthly net purchases under the APP will amount to €40 billion in April, €30 billion in May and €20 billion in June. The calibration of net purchases for the third quarter will be data-dependent and reflect its evolving assessment of the outlook."
  • "If the incoming data support the expectation that the medium-term inflation outlook will not weaken even after the end of our net asset purchases, the Governing Council will conclude net purchases under the APP in the third quarter. If the medium term inflation outlook changes and if financing conditions become inconsistent with further progress towards our two per cent target, we stand ready to revise our schedule for net asset purchases in terms of size and/or duration."
EM BulletHomepagemarkets-real-timeEmerging Market NewsEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
EM BulletHomepagemarkets-real-timeEmerging Market NewsEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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