EUR/GBP gains ground as ECB maintains current interest rates at Thursday’s meeting.
ECB has maintained its main refinancing rate at 4.25%, as expected.
ECB President Christine Lagarde is expected to emphasize the need for more data to ensure confidence in the disinflation process.
EUR/GBP extends its gains for the second successive session, trading around 0.8420 during the European hours on Thursday. The Euro remains strong as the European Central Bank (ECB) decided to maintain its main refinancing rate at 4.25%, as expected, at its July Monetary Policy Meeting. The ECB's deposit facility rate also remains unchanged at 3.75%.
Traders are now looking forward to the ECB Press Conference later today, where ECB President Christine Lagarde will discuss monetary policy. Lagarde is unlikely to outline a specific path for rate cuts but is expected to emphasize the need for more data to ensure confidence in the disinflation process before considering further policy easing.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.