ECB leaves Interest Rate unchanged at 0.0% & Reduces its monthly purchases

October 27, 2017

EUR/USD has dropped due to ECB monetary policy meeting results.

ECB leaves Interest Rate unchanged at 0.0% & Reduces its monthly purchases

This article is originally referred from Fortrade News

At the ECB meeting held yesterday, the central bank decided to slow down its asset purchasing program in January.

The ECB will reduce its monthly purchases from €60 billion to €30 billion and will extend those purchases until the end of September 2018, or beyond, if necessary.

The ECB also decided to leave its benchmark interest rate unchanged at 0.0%. Despite the fact that these decisions were expected by the market, the euro fell sharply after the decision was announced.

In just one hour EUR/USD fell 0.5% and by the end of the day it dropped by 1.56%.

If you think EUR/USD will continue to go down, click on the SELL button, or if you think it will go up, click on the BUY button below.

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  1. Log in to your Fortrade Account using your email (username) and password.
  2. Search for the tradable instrument inside the platform.
  3. Click BUY or SELL to open a trading position.
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Original Source: Fortrade News

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