Euro Slides Toward 1.1106 as ECB Holds Rates and Lagarde Announces Departure

The euro weakened toward 1.1106 against the US dollar after the European Central Bank held its deposit facility rate steady at 2.50% and President Christine Lagarde announced her departure. The ECB also maintained the main refinancing operations rate at 2.65% and the marginal lending facility rate at 2.90%, reiterating a data-dependent, meeting-by-meeting stance. Policymakers warned of upside inflation risks from energy prices alongside downside growth risks. Markets had priced in high expectations of a December hike, but viewed the decision and guidance dovishly. EUR/USD had traded at 1.1131 before slipping further during Lagarde's post-meeting press conference.