OctaFX | OctaFX Forex Broker
Open trading account

ECB's Draghi: ECB's move prompted by worsening inflation outlook in August

FXStreet (Łódź) - When asked about the definition of QE Draghi explains that it's not related to size but rather to the modalities.

• The program is designed just to boost bank lending.

• Draghi also assures a "comfortable" majority of the Governing Council members were in favor of implementing the ABS program.

• "Rules have been followed when hiring investment management company BlackRock as a consultant for ABS program.

• Draghi points to the deterioration of inflation expectations in August as the reason for cutting rates and introducing new measures at today's meeting.

• Eurozone recovery is losing momentum.

• Measures introduced today were aimed at moving the balance sheet up to 2012 levels.

GBP/USD bounces at 1.6400

The GBP/USD is performing a bounce from 1.6400 area as the pair is now trading at 1.6430. Earlier, the cable fell 70 pips from 1.6465 to trade at lows since February 11 at 1.6390 amid central banks decision.
Read more Previous

ECB's Draghi: New measures to provide support to TLTRO

The ECB chief stresses that the measures introduced at today's meeting should reinforce the TLTRO program intoduced in June and coming into effect this month.
Read more Next
Start livechat