ECB will keep the rates low, Draghi to IMF

European Central Bank will keep the interest rates low for a long time, this is what Mario Draghi said to the International Monetary and Financial Committee, the executive branch of the International Monetary Fund.

The ECB President’s speech defined the risk of deflation now disappeared, but European monetary policy will remain expansive, there is no intention to rise the interest rate, fixed to 0% at its historical minimum.

The ECB expects interest rates to remain at current levels for a prolonged period of time, well beyond asset purchasing horizons.

If the outlook becomes less favorable, the ECB is ready to strengthen its purchasing program in terms of size and duration.

So ECB don’t close the Quantitative Easing chapter, but expressly states that it’s ready to continue and to strenghten its program if necessary, in line with the Draghi’s policy of “whatever it takes”.

210417 eurusd

Forex, bearish friday for EUR/USD

Last friday was a bearish day for the Euro and its cross, the bullish outlook had a break and the major lost 56 pips during the intra-day trend. Invertors’ focus is on French elections and buy on EUR/USD are waiting better moments next week, protected from possible volatility of the weekend.




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