ECB Marginal Lending Facility Rate comes in at 2.9%

The European Central Bank today announced its Marginal Lending Facility Rate decision. The rate was set at 2.9%, an increase from the previous rate of 2.65%. This adjustment marks a shift in the ECB’s lending policy.

Following the announcement, EUR pairs showed varied reactions in the first 15 minutes. EURAUD gained 29 pips, slightly above its median 1-hour move of 28 pips. EURNZD moved 46 pips higher, exceeding its median 1-hour move of 34 pips. Other pairs saw smaller movements relative to their historical medians. EURCAD rose 5.9 pips, compared to a median 1-hour move of 31 pips. EURCHF gained 7.7 pips, while its median 1-hour move is 9 pips. EURGBP was up 3.4 pips, against a median of 14 pips. EURJPY increased 18 pips, relative to a median 1-hour move of 27 pips. EURUSD moved 6.1 pips higher, with a median 1-hour move of 26 pips.