ECB Seen Standing Pat Until December

The European Central Bank is set to keep policy unchanged on Thursday but is likely to lay the groundwork for more easing in December as it tries to sustain a long-awaited rebound in consumer prices.

Keeping interest rates and an 80-billion-euro per month bond buying programme unchanged, ECB President Mario Draghi is likely to emphasise the continued need for monetary stimulus, reinforcing expectations for an extension of the ECB’s asset buys beyond its scheduled end next March.

The euro stood near a three-month low against the dollar, at $1.0969, ahead of the ECB’s interest rate decision at 1145 GMT and Draghi’s news conference at 1230 GMT.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.