According to Reuters, European Central Bank policymakers are gathering in Paris at lunchtime on Thursday for an "informal get-together", which seems to be a crisis meeting after Russia’s invasion of Ukraine ramps up economic growth risks amid soaring inflation.
Key takeaways
This was aimed at preparing a decision on March 10 on the likely end of the ECB's bond-buying stimulus programme and pave the way for the first-rate hike in more than a decade to tackle surprisingly high inflation.
“The ECB had not shared a meeting agenda with policymakers but these were expected to discuss the economic outlook, their next policy moves as well as some operational matters.”
“This has now changed, with the Ukraine crisis likely to dominate the discussion.”
Market reaction
EUR/USD remains pressured near 1.1240, unable to sustain its recovery momentum amid intensifying Russia-Ukraine crisis.