The euro is moving upwards after the announcement of the European Central Bank that it ends the bond purchase program at the beginning of the third quarter, while paving the way for the first interest rate increase after more than 10 years from next month.
In particular, the euro strengthened by 0.25% to 1.0746 against the dollar.
In particular, the BoD The ECB announced the end of the bond market at the beginning of the third quarter on July 1, while at the same time noting that it plans to increase its key interest rates by 25 basis points at the next monetary policy meeting in July.
In the meantime, the Board decided that the interest rate on the main refinancing operations as well as the interest rates on the marginal lending facility and the deposit facility would remain unchanged at 0.00%, 0.25% and -0.50% respectively.
The Board The ECB also notes that key interest rates are expected to rise again in September, leaving open the possibility of a larger September increase, noting that the size of this increase “will depend on the latest medium-term inflation outlook. If inflation prospects persist or deteriorate, a larger increase will be indicated at the September meeting. ”
Source: Capital
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