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?
In-Depth Analysis
- 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
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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