Friday, March 1, 2024

Euro registers fall before US inflation spreads

Similarly, the ECB has advanced that there is no need to further slow the economy to control inflation, as demand is still weak.

she euros It dropped this Monday by less than $1,077 after the member of the executive committee of the European Central Bank (ECB) Piero Cipollone said that the entity does not need to slow down the economy to control the increase in prices; and waiting for the United States to publish its latest inflation data tomorrow.

One currency was exchanged at 1.0768 dollars, compared to 1.0785 dollars in the last trading hours last Friday.

In this regard, The ECB set the exchange rate at $1.0773.

The day was marked by the appearances of several members of the ECB, such as Cipollone, who in front of the European Parliament assured that the organization The economy does not need to slow down to control inflation because demand is still weak.

“With demand still weak and inflation expectations strong, there is no need for monetary policy to create more slack to maintain inflation. l”The recovery of supply ‘shocks’ creates room for demand to recover without increasing inflation,” committed.

However, he once again insisted that the ECB will make decisions depending on the data, following the words spoken by the governor of the Bank of Spain, Pablo Hernández de Cos, this week.

In addition, tomorrow will find out the inflation rate in the United States in January, which can revive the expectations of interest rate reduction in that country.

The European currency changed today in a fluctuation band between 1.0760 and 1.0804 dollars.

World Nation News Desk
World Nation News Desk
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