Euro falls as ECB announces QE re-evaluation

All eyes on December meeting

The euro fell 1.5% this afternoon following the European Central Bank's announcement that it will re-examine its €1.1trn quantatitive easing (QE) stimulus programme at its December meeting.

At around 3pm, the euro had fallen to €1.3798 against sterling and also dropped against a basket of other developed market currencies, while the German Dax and French Cac were each up around 2.3%. The ECB's comments came as the Bank once again left its key interest rate unchanged at 0.05%, a move largely anticipated by markets. How are bond managers preparing for an interest rate rise? "The asset-purchase plans are proceeding smoothly and continue to have a favourable impact," said ECB chief Mario Drahgi (pictured), according to the BBC. "The degree of monetary policy accommoda...