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The European Central Bank held its deposit rate at a record 4% on October 26, ending a run of 10 consecutive hikes that began in July 2022. It said inflation is still expected to stay too high for too long, though underlying measures have eased.
Markets had priced in a near-certain hold.
A pause removes a source of euro support and keeps the rate gap with the US wide, which weighs on the euro and makes dollar-priced imported feed ingredients slightly cheaper for US buyers. The price effect is modest.
reuters.comLefteris PapadimasOct 26, 2023After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
