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ECB lower rates by 0.25% as expected- EUR/USD lifts slightly on the news
The European Central Bank (ECB) have just announced the outcome of their monetary policy decision. As expected, the ECB have lowered all their main rates by 0.25%. This was very much the consensus outcome, but a growing number of analysts had been forecasting a more aggressive, 0.50% reduction. Well, that has not happened and the accompanying statement shows no change and no immediate clues as to whether another 0.25% cut will come at the next meeting. The EUR/USD has lifted on the news, but not by much at this stage and of course this outcome was surely priced into the Euro beforehand. The Euro just traded to 1.0870, but that has been the extent of the move thus far. The EUR/USD is currently trading at 1.0863
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