The head of economic policy at the European Central Bank (ECB), Pablo Hernández de Cos, stated on Wednesday that the ECB will continue to raise interest rates significantly and at a steady pace in the coming meetings.
“Keeping interest rates at tight levels will reduce inflation by dampening demand and will also protect against the risk of a persistent upward shift in inflation expectations.“, De Cos said at a financial event in the evening.
EUR/USD Update
On Wednesday, the pair EUR/USD hit seven-month highs, but now awaits Thursday’s US CPI Consumer Price Index, which traders hope will clarify where interest rates are headed. At its highest level since May 31, EUR/USD hit 1.0776 on Wednesday, rising from a low of 1.0725.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
