The Euro has given away previous gains and is practically unchanged on the daily chart as ECB speakers, Lane and Wunsch have hinted at further rate cuts by the European Central Bank.
The Euro turns negative on the day weighed by dovish comments by ECB officials. ECB 's Lane and Wunsch have hinted to more rate cuts in 2025. The BoE is expected to keep a less dovish outlook amid a resilient UK economy and higher inflationary trends. ECB ’s Chief Economist Philip Lane refused to pre-commit to any particular rate path but remained confident that inflation is coming to track, while financing conditions remain restrictive.
What does a central bank do when inflation undershoots or overshoots its projected target? A central bank has one important tool at its disposal to get inflation higher or lower, and that is by tweaking its benchmark policy rate, commonly known as interest rate. On pre-communicated moments, the central bank will issue a statement with its policy rate and provide additional reasoning on why it is either remaining or changing it.
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