Investing.com to No one’s surprise, the ECB has announced today the continuation of its policy rates unchanged, with refinancing rate at 0% and a deposit rate to -0.40%.
The ECB, however, has pushed back the date for the first rate hike, believing now that she had been anticipating a maintenance of rates at their current level until ” after the first half of 2020 “, as she had planned earlier to keep them lower until ” after the summer of 2019 “.
The central bank also said that rates are likely to remain at their current level until the inflation target is reached.
On the markets, it should be noted that the Euro posted a response clearly bearish in first-line, reaching the psychological threshold of 1.12.
The single currency is, however, then quickly brought on to 1.1250. This can be explained by additional information on the rates higher than what the market did which will be applied to the operation TLTRO which will be launched soon.
The CAC 40 and other european indices displayed a reaction to the downside for the moment.
Investors are now awaiting the press conference of Mario Draghi from 14: 30.
As at every ECB meeting, you can follow this event live on Investing.com France, in an article that will be published later.