European Central Bank monetary policy decision - 7 March 2019
- Prior decision
- Main refinancing rate 0.00%
- Marginal lending facility 0.25%
- Deposit facility 0.40%
- ECB changes forward guidance on interest rate
- ECB announces new TLTROs
- Sees rates unchanged through the end of 2019
- Will start a series of two-year TLTROs in September
- Precise terms of TLTROs to be communicated in due course
The ECB pulls a surprise dove out of the hat here in changing both the rate/forward guidance as well as announcing TLTROs. The euro dipped on the headlines here with EUR/USD falling to a low of 1.1275. Draghi to come next but given the dovish tilt here, I reckon he won't have much of anything positive to say.
