ECB did not even discuss a rate cut on Thursday: sources

FILE PHOTO: The European Central Bank (ECB) logo is pictured before a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - European Central Bank policymakers did not discuss a rate cut on Thursday, two sources familiar with the proceedings told Reuters, even as markets had fully priced in such a move.

The sources added that all policymakers were in agreement on a one-off 120 billion euro increase in bond purchases and no other amount was on the table in the meeting.

One of the sources, who declined to be named, said that policymakers held intense discussion in the days leading up to the Governing Council meeting, so a consensus was already forming before their gathering in Frankfurt, making it easier to come to a unanimous decision.

An ECB spokesman declined to comment.

Reporting by Francesco Canepa, Frank Siebelt and Balazs Koranyi