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    Home » ECB Speeds up Monetary Stimulus Exit in Cloud of War in Ukraine
    Forex News

    ECB Speeds up Monetary Stimulus Exit in Cloud of War in Ukraine

    March 10, 20221 Min Read
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    The European Central Bank
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    The European Central Bank unexpectedly hastened its ending of monetary stimulus, signaling it is more worried about record inflation than weaker economic growth.

    • Terming the war a “watershed” event for Europe, ECB policymakers committed to slow bond purchases from the start of May and could stop the program as soon as Q4.
    • Christine Lagarde, President of ECB stated that the governing council expects inflation to stabilize at its 2% target over the medium term, further stating that the war in Ukraine is a significant upside risk, more so energy prices.
    • The outcome was defied the economists’ expectations, who projected a delay in key policy decisions to allow officials to assess the situation.
    • A number of Governing Council members had earlier confirmed their commitment to ending large-scale asset purchases and negative interest rates but signaled that they plan to delay the action.

    The euro pared losses to trade at a largely unchanged level of $1.1061. Italian bonds plunged, signaling the yield on 10-year securities surged 22% to 1.89%.

    Euro Stoxx 50 down -3.18%, EUR USD down -0.51%

    Source: European Central Bank

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