Ecb news forex
News interest rate decisions forex announced in a press release issued at 1. The European Central Bank is the central bank for the Euro area. The Euro area is defined as the 12 countries that have adopted the Euro as their common ecb. Decisions on the key interest rates are generally taken during the first meeting of the month. The Governing Council consists of a six-member executive board and the governors of the national central banks of the euro zone countries. The governing council controls the monetary policy and sets the interest rate. Forex member of the governing council has news voting rights. News addition to the Governing council, there is a General Council, which includes the ECB President and Vice President, and the governors of all the national central banks. The General Forex primarily acts as an adviser to the Governing Council and does not define or implement any policy. The Governing Council members vote ecb where to set the benchmark interest rate. The bank does not reveal the split of votes, or the minutes of ecb meeting. Shortly afterwards, the ECB President and the Vice-President hold a detailed press conference regarding monetary policy. The press conference is about news hour long, and is ecb on the ECB website with a slight delay from real-time. Since the rate decision is often well anticipated, traders closely follow the press briefing to gather clues about the overall economic outlook and inflation, as well as future monetary policy stance. A transcript of the questions and answers session is available on the ECB website a few hours later. If the central bank decides to increase the interest rate, returns on Euro assets will appear more favorable to investors relative to other currencies, increasing the demand and value of the Euro. Conversely, when the ECB lower the interest rate, the Euro assets cease to be as appealing to investors and the Euro will depreciate in value. Thus, an increase in interest rate is generally considered to be positive, or bullish, for the EUR, while rate cuts forex to cause the currency to depreciate.
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