Euro starts to decline

Baku. 26 October. REPORT.AZ/ At today's meeting of the European Central Bank (ECB), a decision was made to maintain discount rate at the current 0% level.

Report informs citing the Bloomberg, the ECB said even if monetary stimulus ends, the discount rate would remain at this level for a long time.In addition, the ECB has reduced its monetary stimulus two times from 60 billion EUR ($ 70.8 billion) to 30 billion EUR ($ 35.4 billion), and extended its maturity to 9 months.If necessary, monetary stimulus will continue after September 2018 and its volume can be increased again.

After a while ECB Chairman Mario Draghi is expected to make a statement on the meeting.

ECB's decision was negative for the euro. Thus, financial markets predict that monetar expanses will be extended for the next 6 months and the discount rate will gradual increase. At present the USD/EUR rate has dropped from 1.1810 to 1.1765. 

The decline of euro is expected to continue.