The euro is weaker against the pound and the dollar this morning ahead of the European Central Bank’s monetary policy meeting tomorrow.
The markets are expecting ‘more of the same’ during the meeting tomorrow. The ECB has, so far, stuck to a more ‘dovish’ approach to monetary policy. President of the ECB, Christine Lagarde, is expected to confirm that an interest rate hike will take place in 2024 and stick to the view that higher inflation is transitory.
This approach differs to that of the Bank of England and Federal Reserve, which are expected to hike interest rates in the very near future.
