# Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

> The ECB's Governing Council decided on 26 October 2017 to cut net asset purchases from €60 billion to €30 billion per month from January 2018 through at least September 2018, and to keep reinvesting maturing principal for an extended period. It also committed to fixed-rate full-allotment refinancing operations at least until the end of 2019.

- Date: 2017-10-27 · published 2017-10-27T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/68668-decisions-taken-by-the-governing-council-of-the-ecb-in-addition-to-decisions
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A slower pace of ECB bond buying reduces euro liquidity growth and supports a firmer euro, which weighs on dollar-denominated commodity prices and can lift euro-zone feed import costs relative to US supply.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-12-15 | [ECB raises interest rates by 0.5%, signals more to come](https://feedsoft.ai/events/38439-ecb-raises-interest-rates-by-0-5-signals-more-to-come.md) | -0.5% | +1.5% |
| EURUSD | 2023-01-31 | [Roaring Euro Turns to ECB Rate Decision - ActionForex](https://feedsoft.ai/events/38003-roaring-euro-turns-to-ecb-rate-decision-actionforex.md) | -1.3% | -2.4% |
| EURUSD | 2018-03-20 | [Euro Rally Could "Extend in Coming Days" - Analysts React to Reports of Shift in ECB Interest Rate Policy](https://feedsoft.ai/events/66202-euro-rally-could-extend-in-coming-days-analysts-react-to-reports-of-shift-in.md) | +0.9% | +0.4% |
| EURUSD | 2023-02-22 | [Investors increase bets on ECB lifting rates to all-time high](https://feedsoft.ai/events/37539-investors-increase-bets-on-ecb-lifting-rates-to-all-time-high.md) | -0.5% | +1.1% |
| EURUSD | 2024-10-31 | [Dollar Consolidates, Yen Gains After BOJ Decision](https://feedsoft.ai/events/28112-dollar-consolidates-yen-gains-after-boj-decision.md) | -1.2% | -2.9% |
| DXY | 2017-06-29 | [Global Co-ordination on Interest Rates Could "Do Serious Damage to the Dollar"](https://feedsoft.ai/events/70707-global-co-ordination-on-interest-rates-could-do-serious-damage-to-the-dollar.md) | +0.3% | -1.7% |
| DXY | 2020-09-16 | [Fed decision September 2020: Interest rates unchanged](https://feedsoft.ai/events/51032-fed-decision-september-2020-interest-rates-unchanged.md) | +0.8% | +0.1% |
| DXY | 2021-04-28 | [Fed decision April 2021: Interest rates held near zero, sees faster growth](https://feedsoft.ai/events/47513-fed-decision-april-2021-interest-rates-held-near-zero-sees-faster-growth.md) | +0.3% | -1.0% |

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/govcdec/otherdec/2017/html/ecb.gc171027.en.html

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