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    Euro up against background of ECB statement

    Report: Strengthening of euro is temporary, US-dollar will jump again

    Baku. 20 October. REPORT.AZ/ Statement by the President of the European Central Bank (ECB), Mario Draghi made after today's meeting of the organization, lifted the euro.

    Report informs citing the Bloomberg, M. Draghi said about extension of a monetary expansion after March 2017. "The issue was not discussed at today's meeting", he said. Head of the Central Bank said the euro zone economy is gradually recovering and risks are reduced. In 2017-2018 years inflation expected to accelerate.

    These statements were seen as a signal to the completion of monetary expansion program, which triggered the strengthening of the euro. Exchange rate of dollar / euro grew by 0.5% - up to 1,1025 USD/EUR. Now, however, operations are carried out in the range of 1,0960 USD / EUR.

    Analytical Group of Report forecasts temporary strengthening of the euro, US-dollar will jump again.

    Notably, at today's meeting, the ECB did not change interest rates. The discount rate maintained at 0% interest on deposits set at the level of -0.4%, interest rates on loans nearly at  0.25%. 

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