ECB Meeting Preview

ECB It's expected that the European Central Bank will keep rates on hold at its actual 3.75%. On the post meeting press conference J.C. Trichet will give hints on the next movement of the Bank, probably pointing to a possible rate hike in the upcoming months. However, opinion is divided on what ECB will do beyond this month.

Check the effect that the result of the meeting will have over the pairs in our Rates and Charts Section or compare the movements of the different banks in our World Interest Rates Table. You can also vote in our Forum Poll: What will be Trichet's decision?

ECB home page
Past key ECB interest rates at ECB

In-Depth Analysis

European Market Update - Markets Quiet Ahead of ECB Rate Decision by Trade The News
Daily Forex Strategy Briefing - Dollar Falls Ahead of ECB Meeting by CMS Forex
Forex Weekly Review and Outlook - Dollar Saved by Strong NFP, FOMC Minutes & ECB Featured by ActionForex.com
EMU economic indicators - On Thursday, the ECB Council will hold its regular monthly meeting by BHF-Bank
Central Bank Speak - US Fed, ECB by FXCM
Research Euroland - ECB: Strict policy would better fit ECB view by Danske Bank A/S

Analysts' comments

Nico Klene, economist at ABN Amro:
"The description of monetary policy as 'accommodative' to 'on the accommodative side' is a clear hint that the ECB is not yet finished with raising rates, but the end is getting closer. We expect one more step." - Gulf Times
Hans Nilsson, analyst at CMS Forex:
"Futures trading signaled increased anticipation of higher rates in the Economic and Monetary Union when the ECB meets to determine rates on Thursday. The risk is the EUR/USD will test all-time highs, but we do not think it will be penetrated. Rather, it will be a double top." - FXstreet.com
David Martin Heredero, economist at Grupo Santander:
"The probability of a further increase in interest rates before year-end has risen recently with the apparently better than anticipated behaviour of euro zone activity in the first quarter. If growth continues surprising to the upside, this could press the ECB to raise rates further in order to avoid inflationary pressures in 2008." - AFX News
Lucy Hartiss, european economist at Capital Economics:
"We expect Mr Trichet to repeat the pledge to 'monitor very closely' price developments, paving the way for a June hike." - AFX News
Rossa White, economist at Ireland's Davy Stockbrokers:
"We do not rule out the possibility that Trichet will signal a May hike, although June remains more likely." - Dow Jones