ICYMI – the ECB cut rates by 25bp and leaves the future path unclear

The full chronology of events from the European Central Bank is below, ICYMI.

While the June cut was a no brainer the path ahead is muddy now, with indications of inflation continuing to bubble along. There is plenty to chew on now, and eyes will be on inflation reports in the weeks and months ahead.

The Bank next meets on July 18, then September 12 (October 10 and December 12 round out the year).

EUR/USD took it all its stride, a subdued sort of range for such a big event today:

This article was written by Eamonn Sheridan at www.forexlive.com. Source