Focus of the day: The meeting of the European Central Bank’s Governing Council!
Dear traders!
According to all forecasts, as a result of its meeting, the ECB will keep the interest rate at a record low. The decision of the ECB will be announced at 14:45 Kyiv time.
ECB President Mario Draghi will hold a press conference 45 minutes after the announcement of the decision of the ECB. Investors are interested in what he will say about the plans of the European Central Bank to raise the cost of borrowed funds.
As a result of its June meeting, the ECB announced plans to keep the interest rate at the current level at least until the summer of 2019.
Some of the officials of the ECB continue to support raising the interest rate in June 2019, but others believe that it is worthwhile to wait in connection with the tension in trade relations.
According to the Reuters poll, which was conducted July 10-18, economists predict that the ECB will raise the interest rate in the third quarter of next year before completing the term of office of President Mario Draghi in October 2019. (Investing.com)
Be careful, consider this event as one of the most significant for the volatility of the market!
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