EUR/USD: ECB Monetary Policy Statement

The European Common Currency depreciated against the US Dollar, following the ECB Monetary Policy Statement release on Thursday at 12:45 GMT. The EUR/USD exchange currency rate lost 54 pips or 0.49% after the release. Note that right after the release the rate gained 19 pips or 0.17%. The Euro continued trading at the 1.1055 level against the Greenback after the release.

The European Central Bank released the Monetary Policy Statement where the European policymakers provide in-depth insights into the economic and financial conditions that their vote on the monetary policy.

According to the official release: "The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon. The Governing Council will continue to make net purchases under its asset purchase programme (APP) at a monthly pace of €20 billion. The Governing Council expects them to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end shortly before it starts raising the key ECB interest rates."