ECB statement out with the announcement 19 Jan

  • present or lower levels to remain way beyond horizon of net asset purchases
  • net purchases will be made alongside reinvestments of the principal payments from maturing securities purchased under the APP
  • If outlook becomes less favourable or inflation path changes , then ECB stands ready to increase programme

Nothing we didn't know already.

The Draghster is warming up in the wings for his 13.30 GMT presser as I type. Any rabbits out the hat today? Unlikely, but we never say never in this business.

You can watch the drama unfold, or otherwise, here

Meanwhile EUR pairs unfazed. EURUSD 1.0662 EURGBP 0.8650 EURJPY 122.22