Sources confirm ECB to announce package of measures at June meeting

FXStreet (Łódź) - Sources at the ECB told Reuters today that the central bank was preparing a package of policy measures to be announced at the upcoming meeting in June. The possible actions include reductions of all three interest rates and the provision of stimulus for small and medium-sized companies.

One of the sources assured that the rate cuts were "more or less a done deal", and they would be in the range of 10-20 basis points. Furthermore, a targeted LTRO or ABS purchase plan would be implemented in order to boost lending to SMEs.

The EUR/USD slid to 1.3715 following the news.