The cut was widely expected but the extension is a little more bearish 26 OctA case of buy rumour/sell fact as we were discussing in various threads earlier but the extension to Sept 2018 and «or beyond» has disappointed the bulls.
I think markets were always led to believe that policy would remain accommodative for a while and no rate hikes imminent so the devil will be in the detail.
EURUSD still near session lows at 1.1760, EURGBP 0.8901 EURJPY 133.75
Now we wait on Draghi to explain further at 12.30 GMT and dodge the Q&A bullets that will surely be coming his way.
Watch it all unfold live here. Draghi set to explain all at 12.30 GMT