InterestRateDecision ECB in 14h 57m
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ECB Interest Rate Decision, January 2025

The European Central Bank lowered the deposit facility rate 25 bp to 2.75% on January 30, 2025, as expected.

Decision2.75%▼ cut −25 bp
Against expectedAs expectedexpected 2.75%
Previous3.00%deposit facility rate
EUR/USD one hour later +33 pips from the last price before
The result

What the ECB decided in January 2025

The move −25 bp Cut 25 bp to 2.75%, from 3.00%.
Against expected No surprise Economists expected: cut 25 bp to 2.75%. The decision was as expected.
Main refinancing rate 2.90% The ECB's other policy rate, set above the deposit facility rate.
Timing 2:15 PM Frankfurt Thursday, January 30, 2025; press conference at 2:45 PM Frankfurt.
What price did

EUR/USD after the ECB decision, minute by minute

One-minute candles, Frankfurt time. The box is the hour before the announcement. How we measure.

EUR/USD one-minute chart around the European Central Bank decision of Jan 30, 2025 The hour before the 14:15 announcement ranged 12 pips. The first spike went above it by 3.1 pips, and a five-minute candle closed back inside after 5 minutes. 1.040 1.042 1.044 1.046 13:30 14:00 14:30 15:00 15:30 16:00 THE HOUR BEFORE ECB 14:15 PRESS CONF. Spike 1.04088 · 3.1 pips past the hour's high Closed back inside · 5 min
  1. The hour beforeEUR/USD ranged 12 pips, from 1.03932 to 1.04057, and was at 1.04052 at the announcement.
  2. The first spike After 0 minutes price went through the hour's high and ran 3.1 pips past it.
  3. The close back A five-minute candle closed back inside the range after 5 minutes.
  4. The other side Price did not trade through the opposite edge within four hours.
  5. The moves From the last price before the announcement: +9.8 pips at 15 minutes, +33 pips at one hour, +7.3 pips at four hours.
For context

Across 14 measured ECB decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 10 (71%), and in 6 of those price then took the other side within four hours. In the other 4 the first move held. Median move in the first 15 minutes: 15 pips.

This decision is one of the closed-back cases. Counts include the decisions where it did not close back. All ECB dates · ECB overview.

← Previous decisionECB, December 2024Cut 25 bp to 3.00%
Next decision →ECB, March 2025Thu, Mar 6, 2:15 PM Frankfurt
Questions

ECB January 2025 decision: questions

What time was the ECB interest rate decision on Jan 30, 2025?

It was announced at 2:15 PM Frankfurt (8:15 AM EST New York, 1:15 PM London London), with the press conference at 2:45 PM Frankfurt.

What did the ECB decide in January 2025?

Cut 25 bp to 2.75% (previous 3.00%). Economists expected: cut 25 bp to 2.75%, so the decision was as expected.

How did EUR/USD react to the ECB decision in January 2025?

On one-minute candles: the hour before ranged 12 pips; the first spike went above it by 3.1 pips; a five-minute candle closed back inside after 5 minutes; after one hour EUR/USD was +33 pips from its pre-announcement price.

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