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

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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