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EUR: ECB opens its books

The European Central Bank publishes the internal notes from its March meeting this afternoon – the first detailed look at how rate-setters in Frankfurt debated the oil shock behind closed doors. The final eurozone inflation figure for March confirms prices rising at...


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GBP: GDP in, rate debate quietly shifting

February’s growth figure is the last clean measure of how the UK economy was doing before the Iran conflict added a new layer of pressure on energy bills and the cost of living. The Bank of England meets on 30 April and a rate cut is firmly off the table – but...


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Six days left on the ceasefire clock

Pakistan’s military chief is in Tehran today. That might sound a long way from the pound, the euro or your exchange rate – but his mission is as close to good news as markets have seen in weeks: a fresh round of talks aimed at extending the Iran ceasefire before...


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USD: PPI cements trend

The US dollar was weakened anyway before March’s PPI report cemented that trend. Producer prices increased by 0.5% in March, far below the 1.3% expected. Goods prices and the annualised rate of price increases both came in at their highest levels since 2023. EUR/USD:...


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