Yesterday Mario Draghi told about the results of the ECB meeting, which led to an acceleration of the fall of the euro. Thus, the ECB cut interest rates on credits by 0.10% to 0.05%, the deposit rate was also reduced to a negative value of -0.20%, which is -0.10% less than the previous value. Mario Draghi also declared that during the meeting was discussed the quantitative easing which can be started after the next meeting.
In addition, the ECB raised its forecast for GDP growth to 1.9% in 2016, which is 0.1% better than the previous forecast. Among the risks to economic growth in the region remain low inflation and geopolitical tensions related to the Ukrainian crisis. We expect a further decline in the euro in the medium and long term, with the closest target of 1.28.