The ECB is moving away from incentive measures?

The ECB protocol at the March meeting was not distinguished by significant changes in monetary policy. Key interest rates remained at the same level, and the volume of the simulation program remains at the same level of 30 billion euros per month. At the same time, the protocol caused an increase in optimism about the single currency.

Buying of the euro was caused by the absence of the ECB’s favorite phrase “we will increase the incentive program if necessary,” which led to the strengthening of the euro and opened the door to new measures to tilt stimulation in the euro area.

At the same time, it is not known whether this is an intentional exception to a replica that has a subtext, or it has simply been omitted because of frequent occurrence. The answers should be given by the press conference of the head of the ECB M. Draghi.

Hanzenko Anton