The European Central Bank's (ECB) Monetary Policy Press Conference is held after the European Central Bank's meeting, during which the interest rate and monetary policy is discussed, which the regulator holds every six weeks.
The press conference is normally given by the ECB President. First, the President reads out a statement, which contains a brief description of current financial and economic conditions in the eurozone, then announces the short-term interest rate and adopted monetary policy measures. This is followed by a short answer session.
Now, webcasts of press conferences are also published on the ECB's official YouTube channel.
The ECB press conferences are usually expected by economists and analysts around the world. The behavior of the euro largely depends on the decision taken by the regulator. Also, the ECB President's comments on the interest rate can influence the euro volatility. If the President's comments suggest that the ECB may tighten the monetary policy in the future, this is seen as positive for the euro. If both the decision and the ECB President's statement are within expected ranges, the press conference will hardly have a serious impact on currency markets.