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ECB: no policy changes expected

The European Central Bank will announce its monetary policy decision at 11:45 GMT. That would be followed by the Mario Draghi’s press conference at 12:30 GMT. According to a Bloomberg survey, the regulator will leave its benchmark interest-rate unchanged at 0.4%. In May ECB cut borrowing costs by 0.25% and Mr. Draghi signaled he’s prepared to cut again if economic data worsen.

Westpac: The ECB meeting is always a potential market-mover, given the lengthy press conference. The media should ask about negative deposit rates and another rate cut, so EUR price action could be whippy.

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