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The European Central Bank opted to keep its stimulus settings unchanged for now as officials started cautiously sketching out the future of their quantitative-easing program.
Policy makers maintained asset purchases at 60 billion euros ($72 billion) a month until December, and reiterated their pledge to increase the size or duration if the economy worsens. They left interest rates unchanged and repeated that they expect borrowing costs to stay at present levels until well past the end of net asset buying. Attention now turns to President Mario Draghi’s press conference at 15:30 in Frankfurt, when he’ll be pressed for insight into the Governing Council’s first formal talks on next year’s strategy.
Now the focus is on the press conference of ECB President Mario Draghi at 3:30 pm in Frankfurt, where traders and investors expect details of monetary policy in the coming months.
Expect an increased volatility in the Euros crosses, not excluding strong movements in the currency price.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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