The time has finally come for the ECB Governing Council to decide on monetary policy today. Economists at Commerzbank analyze Euro’s (EUR) outlook ahead of the announcement.

No easy job

If the ECB manages to contain expectations of rate cuts and the market pushes them back – our experts also consider March/April to be too early and expect the first cut in June, this would be positive for the Euro and we could see a notable move.

However, despite some small adjustments the market has been quite stubborn about its expectations in recent weeks and has refused to be convinced. In this respect, the ECB may not have an easy job today.