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ECB

ECB interest-rate decision

The euro's interest-rate decision — the biggest event for EUR/USD after the Fed's.

Published by
The European Central Bank's Governing Council
Frequency
Roughly every six weeks (eight meetings a year)
When
Monetary-policy meeting dates are published in advance on the ECB website.
Time
Decision at 14:15 Frankfurt time, press conference at 14:45. In Mecca/Riyadh: 15:15 during European summer time (late March to late October), 16:15 otherwise.

What is ECB?

The bank sets the euro area's key interest rates, and its president explains the decision at a press conference. Some meetings also bring the bank's staff projections for inflation and growth.

Why does it move markets?

The gap between euro and dollar rates is the biggest driver of EUR/USD, so any surprise in the decision or the press conference moves the euro across the board.

What traders watch

  • Whether the decision matched expectations.
  • Guidance at the press conference about coming meetings.
  • Inflation projections at projection meetings.

Most affected instruments

EUREURUSDEURGBPEURJPYDE40

Official schedule

Exact release dates are published in advance by the issuer:

ECB meeting calendar

Next release in the economic calendar

From TradingView, in your device's time zone. Look for “ECB” in the list.

Before you trade the release

  • Spreads widen sharply in the minutes around the release, and orders can fill at a worse price than asked (slippage).
  • Some brokers raise margin or restrict orders around major news. Read your broker's terms beforehand.
  • The first move can reverse within minutes. Set your position size and stop before the number comes out, not after.
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Educational explanation, not investment advice. Market reactions to any release are not guaranteed and can run against the usual pattern.