EUR/GBP rebounds from below 0.8900 as hawkish ECB bets mount – by Sagar_Dua24 EURGBP ECB Inflation InterestRate Recession
in its upcoming monetary policy are mounting vigorously.
Annual inflation in Eurozone has softened significantly to 8.5% as the European Central Bank is continuously hiking interest rates. Supply chain disruptions are easing now along with energy prices.
For guidance on Eurozone inflation, ECB policymaker Francois Villeroy de Galhau said on Tuesday that the Eurozone was not very far from the peak of inflation, as reported by Reuters. He further added "I don't think we have to choose between fighting inflation and avoiding a recession," On Wednesday, investors will keenly focus on the German inflation data. The preliminary German Harmonized Index of Consumer Prices is expected to escalate to 10.0% from the former release of 9.6%.
Meanwhile, Pound Sterling is likely to dance to the headlines of a mini cabinet re-shuffle by United Kingdom PM Rishi Sunak after completing his stressed 100 days of work. Sunak will appoint a new Conservative Party chair, after he sacked Nadhim Zahawi over a tax scandal more than a week ago, as part of a wider overhaul, officials told Cabinet ministers Monday, as reported by Bloomberg.
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