ECB keep everything the same

Published date: 12/12/2019
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New ECB President Lagarde chose to keep rates and QE unchanged and she also added all principal payments made from investments will be reinvested. 

This is nothing new and therefore we didn't really see any reaction in any major asset classes. There has been one or two outside calls more accommodative language although there no forecast changes from any major analysts surveyed. 

This is still not today's main event as the UK election promises to overshadow and central bank meeting this week. Later today we will hear from the ECB President as she delivers her first post rate decision press conference. 

EUR/USD holds firm at 1.1130, EUR/GBP at 0.8454 and that is expected to be the main mover today due to politics in the UK. The stock markets seem unfazed by the ECB to with the DAX remaining static.


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