# Monetary policy decisions

> The ECB kept its main refinancing rate at 0.00%, the marginal lending rate at 0.25% and the deposit rate at -0.40%. It said rates will stay at or below current levels at least through the first half of 2020 and that it stands ready to act if inflation stays below target.

- Date: 2019-07-25 · published 2019-07-25T12:00:00.000Z
- Category: macro · region Eurozone · magnitude medium
- Page: https://feedsoft.ai/events/58309-monetary-policy-decisions
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A dovish ECB widens the policy gap with the Fed and tends to weaken the euro against the dollar. A weaker euro makes US exports, including feed grains and meal, relatively cheaper for European buyers.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-01-19 | [Monetary policy decisions](https://feedsoft.ai/events/73190-monetary-policy-decisions.md) | -0.1% | -0.2% |
| EURUSD | 2019-03-07 | [Monetary policy decisions](https://feedsoft.ai/events/60310-monetary-policy-decisions.md) | -0.1% | -0.7% |
| EURUSD | 2018-04-26 | [Monetary policy decisions](https://feedsoft.ai/events/65722-monetary-policy-decisions.md) | -1.7% | -4.0% |
| EURUSD | 2019-09-16 | [Reflections on monetary policy](https://feedsoft.ai/events/57281-reflections-on-monetary-policy.md) | -0.6% | -0.3% |
| EURUSD | 2019-05-23 | [Account of the monetary policy meeting](https://feedsoft.ai/events/59290-account-of-the-monetary-policy-meeting.md) | -0.1% | +1.1% |

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/pr/date/2019/html/ecb.mp190725~52d3766c9e.en.html

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