Euro staged a roller coaster after the ECB cut interest rates no longer overweight or loose

March 10, the European Central Bank announced the reduction leading euro-zone interest rates play girl games five basis points to zero, and lowered the euro zone overnight lending rate and the overnight deposit rate to 0.25%, respectively, and 0.4%, and further expand the asset purchase program. This series of easing "combined" exceeded market expectations, the euro plummeted, but then ECB President Mario Draghi hinted statement will not cut interest rates again, the euro soared a turn offensive, out of the "deep V" Quotes . Market analysts pointed out that the ECB has repeatedly overweight easing to stimulate economic recovery, but may face diminishing marginal utility. Euro staged a roller coaster market Previously, the amount of overweight ECB has wide market expectations, but the launch of the policy "combined" the intensity of the exceeded market expectations. General policy, the ECB cut the three-time interest rates, leading euro-zone interest rates to historically low levels zero; cut the overnight deposit rate by 10 basis points to 0.4%, in line with expectations; cut the overnight lending rate five basis points to 0.25% expected to maintain unchanged at 0.3%. Unconventional policy, the European Central Bank to expand the scale of QE, from April increased to 80 billion euros to 60 billion euros of debt purchase per month, and from the end of the second quarter of this year of new corporate bond purchase plan, the non-banking companies in the euro area investment-grade bonds issued by the euro debt included in the purchase range. In addition, the ECB decided to purchase debt scheduled to continue at least until the end of March 2017, from June onwards the implementation of a four-wheel four-year long-term refinancing operations, in order to stimulate bank lending to the real sector, the lowest interest rates in the euro area overnight deposit rate quite. In addition, the ECB will buy bonds included in the scope of corporate bonds, from the end of the second quarter of this year to implement. Draghi said the ECB decided to buy non-banking companies in the euro zone bonds issued by investment-grade euro, aimed at further strengthening the role of the asset purchase program to improve the financing conditions of the euro area real economy. Draghi said that by international oil prices, the euro area inflation rate in the coming months will inevitably be at a very low level, even negative, to ensure the return of inflation target policy actions should not be unduly delayed, to avoid the current low inflation environment is crucial "secondary effects" of wage and price setting. Under-than-expected policy "combined" impact, the euro fell against the US dollar, fell to 1.0820 lows. However,play Angela Games in the subsequent press conference, Draghi statement that "there is no need for further interest rate cuts expected" sudden turn wind market, the major indexes comprehensive diving, the euro surged against the dollar to above the 1.12 mark, the day to close at 1.1175, compared with large opening It rose 1.62%. Next week the Federal Reserve meeting on interest rates will affect the euro After skyrocketing market and short-term roller coaster market, the euro against the US dollar pullback appeared in 11th. As at 16:00 on the 11th, the euro against the US dollar reported 1.1154, down 0.21% compared with the opening. CITIC Bank Guangzhou Branch, head of the financial services sector in an interview with Nanfang Daily reporter, said that the position of the euro soared from 1.08 to 1.12 mark over the subsequent correction, is normal market fluctuations. "10 the same day, from the perspective of the transaction, the entire market before the ECB is widely expected to adopt a more accommodative monetary policy. Monetary policy came out, their strength is indeed loose large euro short before the announcement on more , we respect the measures taken by the European Central Bank has long been expected, so sell the euro before this action has been deployed, the euro fell quickly after the announcement. "said," but later expressed Drudge hawkish views, the market instantly reversed, and reversed the intensity is relatively large. on the foreign exchange market so-called 'bad out is good'. " However, the market some people ECB "big fire" overweight wide amount cautious. Currently, Europe is negative interest rates "disaster area", negative interest rates further compression of the local banking sector profitability. A Forex industry analyst pointed out that the amount of the ECB has repeatedly overweight wide, continue to lower interest rates, but there is the problem of diminishing marginal utility of monetary policy, "European Central Bank continues to drain to the market, I am afraid more often will not work." 10 the same day, the European Central Bank has slashed inflation expectations in the euro area this year, from the previous 1.0% to 0.1%, the inflation rate is expected the next two years were 1.3% and 1.6%. It will also this year the euro zone economic growth is expected to be reduced to 1.4% and is expected to 2017 and 2018 growth of 1.7% and 1.8%, respectively. Mei Zhixin said that if there is not much market incentives, the euro against the dollar over the next rise little space,play Barbie Dress Up Games it is difficult to break through 1.12 high. However, next week will mark the second time this year the Federal Reserve meeting on interest rates, if the Fed to postpone raising interest rates and moderate stance, the euro there is motivation to continue to rise, possible fluctuations in the direction towards 1.15.