Forex News

ECB holds interest rates, confirms APP reduction plans


The European Central bank decided to keep its benchmark interest rate at its record low of 0.00, matching analysts’ projections.

The ECB also confirmed plans to cut the size of its monthly asset purchases from 60 billion euros to 30 billion euros starting from January until the end of September 2018, where the programme could be extended if necessary.

The central bank’s statement reiterated that interest rates would remain at the current levels for an extended period of time, and well past the horizon of the net asset purchases.

As of 12:51 GMT, the euro eased gains versus the greenback to 1.1774, after reaching a high of 1.1845.

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