◂ Event Timeline

Dec 15, 2022MACROEuro zone

ECB raises interest rates by 0.5%, signals more to come

The ECB raised its deposit rate by 50 basis points to 2%, its fourth increase of the year, and signalled further hikes. It also set out plans to stop replacing maturing bonds from its 5 trillion euro portfolio.

WHY IT MATTERS

A hawkish ECB supports the euro and tightens global financial conditions, which can weigh on commodity demand. The effect on feed markets is mainly through currency and growth channels.

AFFECTSEuro (USD per EUR)▲

SOURCE
rte.ieRTÉ NewsDec 15, 2022

Price reaction & history

Euro (USD per EUR)▲bullishSO FAR1d -0.2%5d -0.5%20d +1.5%

After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.

Feb 2, 2023ECB raises rates, signals at least one more hike-1.7%
Oct 27, 2017Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)-0.2%
Feb 2, 2023ECB hikes rates, promises another 50 bps more in March-1.7%
Oct 28, 2021Euro Rises Against USD Amid Interest Rate Market Moves-0.1%
May 19, 2019Euro Climbs Higher as ECB pushes back Interest Rate deadline; - BBC Money+0.3%

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.

Euro (USD per EUR) EURUSD · GP ▸

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