The euro exchange rate jumped significantly against the dollar. It is currently at a five-week high, thanks to a speech by the head of the European Central Bank, Christine Lagarde.
The speech of the head of the European Central Bank, Christine Lagarde, had a very positive effect on the euro. The European currency is growing against the dollar.
inflation in Europe. Head of the ECB with a clear message
The monthly speech of the head of the European Central Bank, Christine Lagarde, has come to an end. This institution is responsible, inter alia, for: to set interest rates in the euro area, that is, in all countries that have adopted a single currency.
During her speech, Lagarde said that inflation in the euro area is still high, but the ECB is determined to fight it. These are words in the spirit of what the head of the US Federal Reserve Jerome Powell recently said.
The public can be sure that we will stabilize prices and bring inflation back to 2%. in the medium term. This is undeniable,” said Christine Lagarde. The ECB decided to raise interest rates by another 50 basis points to continue fighting inflation.
The euro reacted to the words of Lagarde
The words of the head of the ECB and the decision on interest rates forced the euro to strengthen significantly. The currency rose about 0.2 percent against the dollar to $1.0795, its highest level in five weeks.
One euro is currently worth PLN 4.69, which is quite low on a monthly basis, but it should be remembered that last weekend we had to deal with serious turmoil in the European banking market associated with the acquisition of Credit Suisse. Although the Swiss bank does not fall under the jurisdiction of the ECB, its financial problems have affected the entire market, and also undermined the situation in the European Union.
Source: Wprost
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