European Central Bank Press Conference
Is the ECB Going to Hint at Another Rate Cut?
Starts Thursday, October 24, 2019 at 12:30
Updated Thursday, October 17, 2019
Inflation slipped below 1% in the Eurozone, while core CPI inflation remains at 1.0% which is the lowminimumfor the ECB. The economy of the Eurozone has turned pretty weak recently and the ECB had turned dovish as well. Markets are pricing in two 10 bps rate cuts by the ECB this year, so this press conference will be really interesting to hear what steps the ECB will take to stop the economic slowdown after cutting deposit rates once last month and announcing the reintroduction of the QE proramme. Markets are expecting another rate cut soon and the ECB might announce it this week. Please follow us for live coverage of this event by experienced market analysts.
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About European Central Bank Press Conference
The ECB press conference is held at the ECB European Central Bank headquarters where ECB president Mario Draghi and vice president Luis De Guindos speak. The conference is about an hour long. It is divided into two parts. During the first part, the speaker reads a prepared statement, also called the interest rate statement. The second part is a question and answers session where the ECB president and vice president take questions. As in other speeches from central bankers, forex traders try to decipher clues from the speeches. Although, unlike some speeches, the ECB press conference always discusses monetary policy. This is the primary way the ECB communicates with the public regarding the monetary policy. It generally covers, in detail, the Central Banks’ views on the Eurozone economy and inflation expectations. The questions often lead to unexpected answers, therefore high volatility is expected during the press conference.