Comments via ING on the EUR in creation to today European Central Bank meeting:
- given the still high level of uncertainty surrounding any economic outlook, the ECB is highly unlikely to change its policy stance
- The interesting part of the meeting and the press conference will be Lagarde’s comments on the euro exchange rate. She knows that it is hard to reverse a trend in the fx market only with words. Words can dampen or temporarily stop a trend but also accelerate it.
- However, all of this is not of the highest importance. What will count most .. is the question of whether the stronger euro has already opened the door for more monetary stimulus in the coming months
- announcement due 1145GMT (consensus expectations is no change)
- ECB President Lagarde speaks at 1230GMT at the post-meeting press conference