{"id":6991,"date":"2018-04-27T13:16:58","date_gmt":"2018-04-27T13:16:58","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=6991"},"modified":"2018-09-06T14:52:45","modified_gmt":"2018-09-06T14:52:45","slug":"european-central-bank-holds-rates-which-results-in-drop-in-euro-value","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/european-central-bank-holds-rates-which-results-in-drop-in-euro-value\/","title":{"rendered":"ECB Holds Rates Which Results In Drop In Euro Value"},"content":{"rendered":"

\"\"After the European Central Bank<\/strong> (ECB) decided to hold its rates and keep its current monetary policy<\/a>, the Euro witnessed a decline in value. <\/p>\n

At the time of this writing, the Euro recovered slightly and was at 1.2154 against the USD<\/strong>.<\/p>\n

The ECB decided to keep their main overnight rate at 0.00%, their marginal lending facility rate at 0.25%, and their deposit facility rate at -0.40%. <\/p>\n

This did not surprise anyone since financial analysts predicted that there was was only a 5% chance of the rates moving, and overnight index swaps had less than a 25 percent chance of a rate hike taking place at the end of 2018.<\/p>\n

The other move that influenced the drop was the ECB not make any changes to its April release. The April release of its monetary policy was similar to the release in March. This is not surprising considering that the ECB will only change its policies when it has reliable economic forecasts in hand to make changes. This is the same policy that the Federal Reserve<\/strong> and the Bank of England<\/a> adopts when it comes to policy changes. Analysts expect the ECB to make changes only when the Staff Economic Projections<\/strong> get released.<\/p>\n

European Central Bank<\/strong><\/p>\n

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