ECB Makes No Reference to Tighter Monetary Policy, Focus on Draghi
- The European Central Bank, as expected, has left its interest rates and asset-purchase program unchanged.
- It has also decided not to give any guidance on when to expect monetary policy to be tightened.
- The key question now is whether ECB President Mario Draghi drops any hints at his 1230 GMT press conference.
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The European Central Bank, as expected, has left all its key interest rates and its asset-purchase program unchanged following a meeting of its rate-setting Governing Council. Moreover, there was no guidance on when to expect the ECB to tighten monetary policy.
Now, attention is focused on the post-meeting press conference given by ECB President Mario Draghi to see if he adds any guidance to the non-committal statement already released.
In the markets, EUR/USD was modestly easier after the ECB announcement.
--- Written by Martin Essex, Analyst and Editor
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.