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...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
