Eurozone inflation jumped to 2.5% last month, up sharply from 1.9% in February, driven almost entirely by soaring energy costs. While the headline number came in below the worst forecasts, several European Central Bank policymakers have started publicly talking about the possibility of raising interest rates as soon as this month. Higher rates tend to support a currency because they attract investors looking for better returns, so the talk has been giving the euro a modest boost against the pound. The ECB’s next meeting is on 29 April – a date that could matter for anyone exchanging pounds for euros.
GBP/EUR: the past year
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