Christopher Nye
on March 17th, 2023 The European Central Bank raised interest rate by 50 bps on Wednesday, meeting economists’ expectations. The rate is currently at 3.5% but remains higher than the ECB’s target rate of 2%.
Ahead of the news, the euro gained 0.5% against sterling but has since lost those gains. The euro is currently trading 1.2% lower than it was this time last week, but is up 4.3% since this time last year.
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