ECB Rate Decision & Press Conference — Schedule
The European Central Bank (ECB) sets monetary policy for the Eurozone — its rate decisions and press conferences drive EURUSD, EURGBP, and European equity indices.
About ECB Rate Decision
The ECB meets ~every 6 weeks to set the main refinancing rate, deposit facility rate, and marginal lending rate. The rate decision releases at 13:15 UTC, followed by a press conference 30 minutes later.
Press conferences with the ECB President often produce the biggest moves — forward guidance on future hikes or cuts can move EURUSD 100+ pips in minutes.
The ECB publishes macroeconomic projections four times per year (March, June, September, December) — these can shift the euro's medium-term outlook.
How ECB Rate Decision moves forex markets
- EURUSD, EURGBP, and EURJPY see the largest moves. DAX and CAC40 also react strongly to ECB policy shifts.
- The rate decision itself is usually priced in — the press conference delivers the surprise. Avoid holding positions into the press conference unless sized for volatility.
- A hawkish ECB (keeping rates high or signaling hikes) strengthens EUR; a dovish ECB (cutting or signaling cuts) weakens it.
Frequently asked questions
When is the next ECB meeting?
See the schedule above — the ECB meets roughly every 6 weeks. Rate decisions release at 13:15 UTC, press conferences at 13:45 UTC.
What moves EURUSD more — ECB or FOMC?
Both move EURUSD significantly. FOMC typically produces larger absolute moves because of USD liquidity, but ECB surprises can produce longer-lasting euro trends when forward guidance shifts.