The DAX Drops, Despite ECB Meeting
DAX fell 0.32% to close at 12,849. German Final Consumer Price Index hit its 3-month maximum of 0.5%. Today’s focus is ECB meeting, where members are expected to address the asset purchase program ending. Mario Draghi’s comments might carry much significance to euro and stock market. Tomorrow, the Eurozone will release Final Consumer Price Index.
Fed executed a 25bps rate hike to a range of 1.75%-2.00%. Jerome Powell (Fed Chair) told the economy was improving and “overall outlook for growth remains favorable”. Also: “economic activity has been rising at a solid rate”. Members also upgraded their GDP and inflation forecast. There are about to be 2 more rate hikes, according to the projection.