Today is a big data day for eurozone market watchers as the European Central Bank is to announce its interest rate decision at 1:15 this afternoon. The ECB is expected to raise its interest rates by 75 bps to 1.25%. if they do, this will raise eurozone borrowing prices to the highest they have been in 11 years. The rate hike is part of the Bank’s aim to control inflation, which is predicted to reach double-digit figures in the coming months
Following the interest rate announcement, the ECB will hold a press conference today at 1:45pm and the ECB’s president Christine Lagarde will also speak at 3:15 this afternoon.
