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STIR: Unsurprisingly Little Reaction in ECB-dated OIS Post 25bp Cut

STIR
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Unsurprisingly little reaction in ECB-dated OIS following the rate decision and policy statement, with rates cut by 25bps and the data-dependent and meeting-by-meeting approach maintained. 

  • The ECB continues to believe monetary policy is still restrictive and financing conditions are tight. This comes after the Q4 BLS and December money and credit data earlier this week, both of which may be referenced in the press conference at 1345GMT.
  • Adjusted for today’s cut, OIS price 71bps of easing through year-end. There are 23bps of easing priced into the March meeting, where an updated set of macroeconomic projections will be presented. 

 

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Unsurprisingly little reaction in ECB-dated OIS following the rate decision and policy statement, with rates cut by 25bps and the data-dependent and meeting-by-meeting approach maintained. 

  • The ECB continues to believe monetary policy is still restrictive and financing conditions are tight. This comes after the Q4 BLS and December money and credit data earlier this week, both of which may be referenced in the press conference at 1345GMT.
  • Adjusted for today’s cut, OIS price 71bps of easing through year-end. There are 23bps of easing priced into the March meeting, where an updated set of macroeconomic projections will be presented. 

 

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