# ECB Monetary Policy Statement disappoints - OFX (UK)

> Sterling gained modestly as global risk appetite improved and the UK signaled lockdown-easing guidelines for the following week. The ECB held rates and lowered bank lending rates but did not extend its bond purchases, and UK manufacturing PMI and mortgage approvals missed forecasts.

- Date: 2020-04-30 · published 2020-04-30T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/53880-ecb-monetary-policy-statement-disappoints-ofx-uk
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

The ECB's failure to expand asset purchases supports the euro relative to sterling, but the effect on feed commodity prices is minimal.

## Read by commodity

- EURUSD: neutral
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-07-20 | [Monetary policy decisions](https://feedsoft.ai/events/70184-monetary-policy-decisions.md) | +1.0% | +1.6% |
| EURUSD | 2017-08-17 | [Account of the monetary policy meeting](https://feedsoft.ai/events/69662-account-of-the-monetary-policy-meeting.md) | +0.8% | +1.6% |
| EURUSD | 2017-02-16 | [Account of the monetary policy meeting](https://feedsoft.ai/events/72688-account-of-the-monetary-policy-meeting.md) | -0.1% | +1.3% |
| EURUSD | 2019-11-21 | [Account of the monetary policy meeting](https://feedsoft.ai/events/56279-account-of-the-monetary-policy-meeting.md) | -0.6% | +0.6% |
| EURUSD | 2023-02-16 | [Monetary policy after the energy shock](https://feedsoft.ai/events/37537-monetary-policy-after-the-energy-shock.md) | -0.9% | -0.6% |

## Sources

- ofx.com: https://www.ofx.com/en-gb/forex-news/daily-and-weekly-market-news/2020/05/01/ecb-monetary-policy-statement-disappoints/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.