# European Central Bank launches new bond-buying program

> The ECB cut its main deposit rate by 10 basis points to -0.5% and announced a new asset purchase program of €20 billion per month for as long as necessary. Markets had broadly expected some stimulus, and President Draghi urged governments to use fiscal space.

- Date: 2019-09-12 · published 2019-09-12T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/57280-european-central-bank-launches-new-bond-buying-program
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Looser euro monetary policy weakens the euro against the dollar, which can support dollar commodity prices and shifts relative competitiveness for feed ingredient exporters.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2023-09-14 | [European Central Bank hikes rates to record level](https://feedsoft.ai/events/34315-european-central-bank-hikes-rates-to-record-level.md) | -0.2% | -1.7% |
| EURUSD | 2019-09-12 | [European Central Bank cuts interest rates to record low - ABC News](https://feedsoft.ai/events/57284-european-central-bank-cuts-interest-rates-to-record-low-abc-news.md) | +0.5% | -0.2% |
| EURUSD | 2018-07-26 | [European Central Bank says rates will remain low for months \| AP News](https://feedsoft.ai/events/64242-european-central-bank-says-rates-will-remain-low-for-months-ap-news.md) | -0.1% | -0.7% |
| EURUSD | 2018-04-12 | [Euro in Danger as Strength Now a Pressing Issue for the European Central Bank](https://feedsoft.ai/events/65729-euro-in-danger-as-strength-now-a-pressing-issue-for-the-european-central-bank.md) | -0.0% | -4.3% |
| EURUSD | 2016-11-17 | [Account of the monetary policy meeting of the Governing Council of the European Central Bank](https://feedsoft.ai/events/8331-account-of-the-monetary-policy-meeting-of-the-governing-council-of-the-european.md) | -1.3% | -3.0% |
| DXY | 2019-09-12 | [European Central Bank cuts interest rates to record low - ABC News](https://feedsoft.ai/events/57284-european-central-bank-cuts-interest-rates-to-record-low-abc-news.md) | -0.3% | +0.3% |
| DXY | 2018-07-26 | [European Central Bank says rates will remain low for months \| AP News](https://feedsoft.ai/events/64242-european-central-bank-says-rates-will-remain-low-for-months-ap-news.md) | -0.0% | +0.7% |
| DXY | 2016-12-08 | [European Central Bank adds half a trillion euros in stimulus \| iNFOnews.ca](https://feedsoft.ai/events/73666-european-central-bank-adds-half-a-trillion-euros-in-stimulus-infonews-ca.md) | +0.1% | +1.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/09/12/european-central-bank-launches-new-bond-buying-program.html

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