ECB policy remains unchanged

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On October 28, the European Central Bank published its Monetary Policy Decisions. The central bank kept interest rates unchanged and revealed that it would continue its asset and pandemic purchase programs.

Quoting the statement: " The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively.

Net purchases under the APP will continue at a monthly pace of €20 billion.

The Governing Council will continue to conduct net asset purchases under the PEPP with a total envelope of €1,850 billion until at least the end of March 2022 and, in any case, until it judges that the coronavirus crisis phase is over.

The Governing Council will continue to provide ample liquidity through its refinancing operations. In particular, the third series of targeted longer-term refinancing operations (TLTRO III) remains an attractive source of funding for banks, supporting bank lending to firms and households.

Monetary Policy Decisions

Monetary Policy Decisions

On the announcement, at 11:45 GMT, the EUR/USD spiked by 18 base points before starting a decline. From the top of the spike, the decline lasted ten minutes and extended to 25 points.

On a larger scale, the EUR/USD continued to trade with low volatility near the 1.1600 mark.

Initial Reaction

Larger scale situation

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Actual Topics

Thu, 28 Oct 2021 12:45:59 GMT

US GDP causes USD volatility

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Thu, 28 Oct 2021 08:44:20 GMT

Bank of Japan keeps policy unchanged

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