The European Central Bank's (ECB) policymakers agreed that ample monetary stimulus remains essential, the ECB's January Monetary Policy Meeting Accounts showed on Thursday.

Market reaction

The shared currency showed no immediate reaction to this statement and the EUR/USD pair was last seen gaining 0.28% on a daily basis at 1.2070.

Key takeaways as summarized by Reuters

"In view of the sharp contraction of the euro area economy, it was deemed important for the governing council to emphasise the need for continued and ambitious fiscal policies to support the recovery."

"Governing council needed to state that it continued to stand ready to adjust all of its instruments, including the deposit facility rate, as appropriate, to ensure that inflation moved toward its aim in a sustained manner."

"Governing council should reiterate its vigilance with regard to developments in the exchange rate and their implications for the inflation outlook."

"Point was made that the governing council needed to stress that there was no room for complacency."

"The view was held that favourable financing conditions needed to prevail for some time."

"A balanced presentation of the outlook was called for, as some uncertainties regarding the international developments had been resolved in a more positive way than expected."

"Projected path of inflation continued to be distant from the governing council’s medium-term inflation aim."

"Not every increase in nominal yields should be interpreted as an unwarranted tightening."

"Nominal yields were not an appropriate benchmark for assessing whether financing conditions remained favourable."

"Members also widely agreed that there was no room for complacency."

"A more sustained rise in real rates could rapidly lower the relative attractiveness of equities and thereby pose the risk of a more broad-based repricing."

"To the extent that investors saw the risks surrounding us real rates as increasingly skewed to the upside, an important driver behind recent exchange rate developments could lose steam."

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

EUR/USD eases below 1.0750 as USD recovers ahead of PCE inflation

EUR/USD eases below 1.0750 as USD recovers ahead of PCE inflation

EUR/USD is trading below 1.0750, easing from weekly highs. The US dollar cuts losses amid easing risk-on trades in early Europe. Little of note in the EU docket puts the US PCE inflation in focus. 


GBP/USD consolidates gains above 1.2600, US data eyed

GBP/USD consolidates gains above 1.2600, US data eyed

GBP/USD is consolidating gains above 1.2600, having stalled its upside, as the US dollar recovers ground amid the souring market mood. Cable finds support from the UK's household support package and easing aggressive Fed tightening bets. Key US data awaited. 


Gold sticks to gains above $1,850, lacks follow-through amid risk-on

Gold sticks to gains above $1,850, lacks follow-through amid risk-on

Gold built on the overnight bounce from the very important 200-day SMA support and edged higher on the last day of the week. The XAUUSD held on to its modest intraday gains through the early European session and was last seen trading above the $1,850 level.

Gold News

Why Elon Musk’s tweet failed to move Dogecoin price

Why Elon Musk’s tweet failed to move Dogecoin price

Dogecoin price continues to produce lower lows on a four-hour time frame. As DOGE approaches the $0.073 support floor, investors can expect a decent bounce to $0.087.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!