Euro falls as ECB announces QE re-evaluation

All eyes on December meeting

Daniel Flynn
clock

The euro fell 1.5% this afternoon following the European Central Bank's announcement that it will re-examine its €1.1trn quantatitive easing (QE) stimulus programme at its December meeting.

At around 3pm, the euro had fallen to €1.3798 against sterling and also dropped against a basket of other developed market currencies, while the German Dax and French Cac were each up around 2.3%. The ECB's comments came as the Bank once again left its key interest rate unchanged at 0.05%, a move largely anticipated by markets. How are bond managers preparing for an interest rate rise? "The asset-purchase plans are proceeding smoothly and continue to have a favourable impact," said ECB chief Mario Drahgi (pictured), according to the BBC. "The degree of monetary policy accommoda...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Europe

Timing of ECB rate cuts in doubt as core eurozone inflation measure disappoints

Timing of ECB rate cuts in doubt as core eurozone inflation measure disappoints

Services price inflation remains sticky

Valeria Martinez
clock 01 February 2024 • 1 min read
Eurozone inflation rises to 2.9%

Eurozone inflation rises to 2.9%

Driven by energy prices

Elliot Gulliver-Needham
clock 05 January 2024 • 1 min read
European mutual funds suffer €19bn outflows in October

European mutual funds suffer €19bn outflows in October

LSEG Lipper European Fund Flows

Cristian Angeloni
clock 27 November 2023 • 2 min read
Trustpilot