ECB ready to buy bonds, Euro tumbles.

As with any official ECB press conference, the Euro depreciates against major currencies. Mario Draghi announced that the central bank is ready to purchase bonds. What this means is that there will be more cash in the economy and this in turn causes a currency to fall. Hence, inflation is also expected to pick up.

The videostream of the press conference can be found here.

Here is the EUR/USD chart to see how the Euro dropped against the US dollar.

Minimum bid rate remained at 0.05%.