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ECB: 30% more QE and lower rates

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD, ECB’s Draghi finally delivers his bazooka. The ECB went all out today with rate cuts, more QE and further long term refis. The deposit rate was cut by 10 bp to -0.40%, from -0.30% previously. This was the minimum markets had been looking for but Draghi certainly overdelivered in other areas. The main refinancing rate was cut to 0.00% from 0.05% previously and the top rate cut to 0.25%. The ECB also lifted monthly QE purchases to EUR 80 bln, and expanded the list of eligible assets.

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