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The ECB held its key rate at 4% on October 26 after 10 consecutive hikes starting in July 2022. It said rates at current levels would bring inflation to target if maintained long enough.
Markets had priced in a more than 98% chance of a hold.
The pause signals the end of tightening in Europe, which limits euro upside against the dollar and keeps trade-financing costs high for European feed importers. The direct commodity impact is small.
cnbc.comJenni ReidOct 26, 2023After 129 past neutral macro events, EURUSD 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.
