The ECB raised its benchmark interest rate by 50 bps to 2.50 % as widely expected.
- However, the ECB informs that it is clearly raising inflation expectations, which will be met with further significant interest rate increases in the future. The euro gains after this announcement.
- The ECB indicates that interest rates must reach a restrictive level for inflation to reach the target of 2% in the medium term
- The APP portfolio will be reduced moderately from the beginning of March 2023 by no reinvestment!
ECB post meeting conference starts at 1:45pm BST and comments at the conference may impact markets significantly. We will report the conference for you in the News section.
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EURUSD is rather unimpressed by ECB rate decision. The pair is testing 50 hour moving average. Source: xStation5
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