ECB continues to depreciate the EUR

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On April 14, the European Central Bank kept its base rates in the negative zone and revealed that it would end asset purchases only in the third quarter of 2022.

The news indicate that the rampant inflation in the European Union is set to continue, and the value of the Euro is going to decline.

Quoting the statement: "Inflation has increased significantly and will remain high over the coming months, mainly because of the sharp rise in energy costs.

At today's meeting the Governing Council judged that the incoming data since its last meeting reinforce its expectation that net asset purchases under its asset purchase programme should be concluded in the third quarter. "

Released Document

Monetary policy decisions

The news caused a drop of the Euro. The EUR/USD plummeted more than 50 base points in less than ten minutes.

On a larger scale, the EUR/USD has been declining since the United States hinted at monetary tightening, which is strengthening the USD. Meanwhile, the ECB has continued to create additional supply of the Euro. It has resulted in a loss of value of the Euro of almost 12.00%, compared to the US Dollar.

Initial Reaction

Larger scale situation

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Actual Topics

Tue, 19 Apr 2022 11:22:10 GMT

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