ECB: Rates unchanged with expansion of QE and additional TLTRO

ECB announced an expansion of QE and introduced additional TLTRO. Meanwhile, Germany is set to abandon balanced budget rules to fight the virus, Valeria Bednarik from FXStreet reports. EUR/USD trades at 1.1236.

Key quotes

“The ECB has just announced its latest monetary policy decision. Rates remained unchanged, although it but will let banks run lower capital ratios due to the coronavirus outbreak. The central bank introduced additional TLTRO and expanded QE by 120B for this year.”

“Meanwhile, Germany announced it is ready to abandon balanced budget rules to fight the virus.” 

“ECB’s head, Lagarde, is set to speak in a few minutes and will introduce further noise.”