EMU: ECB cuts refi rate by 25bp to 0.50% in May

FXstreet.com (Barcelona) - For the first time since July 2012, the ECB has decided to change its refi rate in May 2013, cutting it by 25bp, from 0.75% to 0.50%, in line with consensus. The interest rate on the marginal lending facility will be decreased by 50 basis points to 1.00%. Both changes will be in effect from 8 May 2013. The interest rate on the deposit facility will remain unchanged at 0.00%.

May 2, 2013

Forex: EUR/JPY spikes both ways on ECB rate cut, at 128.00

The ECB interest rate decision was just announced and policymakers decided to cut the refi rate by 25bp to 0.50%, as expected. Draghi’s press conference is scheduled at 12:30 GMT. The EUR/JPY reacted with spikes in both ways, but having the 128.00 mark as epicenter.

Forex: EUR/USD around 1.3200 after ECB

The single currency is resuming the upside towards the key resistance at 1.3200 on Thursday, after the ECB delivered a 25 bp rate cut, taking the refi rate to 0.50%, broadly in line with market ...