June 15, 2023 – Written by John Cameron
Leave a comment STORY LINK Pound Euro Exchange Rate News: GBP/EUR Wavers on Hawkish ECB rate Hike
Euro (EUR) Buoyed by Prospect of Further Tightening
The Euro (EUR) enjoyed modest gains on Thursday in the wake of the European Central Bank (ECB) opting to meet market expectations and raise the interest rate for the eighth consecutive meeting. The cash rate now sits at 4%, the highest level since the financial crisis of 2008.
Despite the fact that the Eurozone entered a technical recession, both inflation and core CPI remain far above the ECB’s target rate of 2%, the ECB did not feel it was time to pause. Further bolstering the Euro against its rivals were…
Read More
