Deposit rate was lowered to 2.75%, in line with expectations. Previously the deposit rate was at 3.00%.
Statement:
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Open account Try demo Download mobile app Download mobile app- ECB lowered three key interest rates by 25 bp
- EBC said that is not pre-commiting to a particular rate path
- EBC said that is determined to ensure that inflation stabilizes sustainably at 2% inflation goal
- EBC said that the economy is still facing headwinds but rising real incomes and gradually fading effects of restrictive monetary policy should support a pick-up in demand over time.
- EBC said that past rate hike are still transmitting and monetary policy is still restrictive
- EBC will follow a data-depentend, meeting by meeting approach in determining appriopriate policy stance
The ECB did not surprise with a statement that is generally largely unchanged. The ECB believes that rates are still restrictive and also sees the potential for a recovery. The market still sees the potential for further interest rate cuts after today's announcement. The EURUSD is minimally rebounding in anticipation of Christine Lagarde's speech in about 20 minutes.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
