# ECB minutes show deep rift over policy as Draghi era closes

> ECB minutes show a deep policy rift as the Draghi era closes. The central bank had decided last month to cut deposit rates further into negative territory and to restart open-ended bond purchases to stimulate a slowing economy.

- Date: 2019-10-10 · published 2019-10-10T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/56785-ecb-minutes-show-deep-rift-over-policy-as-draghi-era-closes
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Looser euro-area monetary policy can weaken the euro and marginally support dollar-priced commodities, but the effect on feed markets is small.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2019-01-24 | [Dollar rises vs euro as ECB's Draghi warns on downside risks](https://feedsoft.ai/events/61302-dollar-rises-vs-euro-as-ecb-s-draghi-warns-on-downside-risks.md) | +0.2% | -0.4% |
| EURUSD | 2021-07-21 | [ECB pledges low rates for longer as virus casts shadow over growth](https://feedsoft.ai/events/46291-ecb-pledges-low-rates-for-longer-as-virus-casts-shadow-over-growth.md) | +0.5% | -0.5% |
| EURUSD | 2017-06-28 | [ECB says markets over-reacted to Draghi’s stimulus signals – The Irish Times](https://feedsoft.ai/events/70717-ecb-says-markets-over-reacted-to-draghi-s-stimulus-signals-the-irish-times.md) | +0.3% | +2.9% |
| EURUSD | 2019-07-25 | [Mario Draghi gives market hint of ECB stimulus in September – as it happened](https://feedsoft.ai/events/58311-mario-draghi-gives-market-hint-of-ecb-stimulus-in-september-as-it-happened.md) | -0.1% | -0.4% |
| EURUSD | 2020-01-23 | [Dollar gains vs euro as ECB holds policy steady, launches review](https://feedsoft.ai/events/55288-dollar-gains-vs-euro-as-ecb-holds-policy-steady-launches-review.md) | -0.7% | -2.6% |

## Sources

- reuters.com: https://www.reuters.com/article/economy/ecb-minutes-show-deep-rift-over-policy-as-draghi-era-closes-idUSKBN1WP2F9/

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