European Central Bank signals interest rate cut, euro down


The European Central Bank did not change interest rates at this month’s meeting. In the previous decision text, it was stated that interest rates will not be changed until the first half of 2020, but after Draghi announced that they can use the interest rate instrument if necessary, ay Interest rates will remain at the current or lower level for at least the first half of 2020 ardından. The use of the center strengthened the expectation that the center will cut interest rates during the year.

Following the text of the meeting, which included pigeon expressions, there was a decline on the euro side. The EUR / USD fell to the 1.11 base, the lowest level during the year, while the EUR / GBP fell to 0.8890 and EUR / TRY to 6,2990.

Eyes were soon turned to ECB President Draghi’s statements, and the pigeon statements are expected to continue and the pressure on the euro will continue.


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