The euro is stronger against the pound and weaker against the dollar this morning, mainly due to sterling and greenback movements.
The European Central Bank is set to release its economic bulletin later today, which presents to economic and monetary information that informs decisions. This should give a greater insight into the ECB’s cautious approach towards interest rates and monetary policy, as well as the view that high inflation is ‘transitory’.
ECB official, Frank Elderson, said yesterday that “we are, of course, very much aware, that near-term inflation is higher than previously expected. And we understand that this is a concern for citizens as, of course, this influences their disposable incomes and purchasing power.”
ECB officials Philip Lane and Isabel Schnabel will speak later today.
