# Monetary policy decisions

> The ECB kept its main refinancing rate at 0.00%, the deposit rate at -0.40% and the marginal lending rate at 0.25%. It confirmed monthly net asset purchases of €60 billion through December 2017 or longer if needed.

- Date: 2017-07-20 · published 2017-07-20T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/70184-monetary-policy-decisions
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Unchanged ultra-easy policy keeps the euro under less upward pressure than a tightening would, so the currency impact on dollar-priced grain and meal is limited.

## Read by commodity

- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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 | 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% |
| EURUSD | 2020-04-30 | [ECB Monetary Policy Statement disappoints - OFX (UK)](https://feedsoft.ai/events/53880-ecb-monetary-policy-statement-disappoints-ofx-uk.md) | -0.4% | +2.0% |

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/pr/date/2017/html/ecb.mp170720.en.html

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