ECB cuts key rates by 25 bps in October monetary policy decision, as expected

• Prior decision
• Deposit facility rate 3.25% vs 3.25% expected
• Prior 3.50%
• Main refinancing rate 3.40% vs 3.40% expected
• Prior 3.65%
• Marginal lending facility 3.65%
• Prior 3.90%
• Incoming information shows that the disinflationary process is well on track
• The inflation outlook is also affected by recent downside surprises in indicators of economic activity
• Inflation is expected to rise in the coming months, before declining to target in the course of next year
• Will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction
• It will be based on the assessment of the inflation outlook, incoming economic and financial data
• Not pre-committing to a particular rate path
• Full statement

This article was written by Justin Low at www.forexlive.com.



Source link