FX.co ★ What will the ECB come up with?

Today at 11:45 AM London Time, the results of the ECB meeting on monetary policy will be announced, and this is the only noteworthy event. However, the most interesting development will begin to unfold after 45 minutes, during the press conference of Mario Draghi, which can clarify the situation.

It is most likely that the ECB will leave the parameters of monetary policy unchanged, and then the single European currency, which has been rising for several months in a row on expectations of tightening the policy of the regulator, will go down. If, however, Mario Draghi after this comments regarding the timing of the beginning of raising rates, then the euro will once again go up. But not so much, as he has already said this many times.

If the ECB decides to raise the rate on deposits, or even refinancing, then the growth of the single European currency will continue with a new momentum.

In the most likely scenario, the euro/dollar pair will decline to 1.1850.

If the most unbelievable thing happens and the ECB raises the rate, the first mark is 1.2050. And after consolidation at this level, the euro will continue to grow.