14 Hrs
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الاقتصادية
Pound steadies vs Euro before ECB decision
The British Pound remains steady against the Euro at around 85.89 pence, as investors await the European Central Bank's decision on interest rate hikes. The ECB has increased its main interest rate by 25 basis points to reach 2.5%. The European Central Bank is moving toward a sustained tightening of its monetary policy due to rising energy prices driven by tensions in the Middle East, with expectations of further rate increases in the coming months—especially as oil prices continue to stay above $100 per barrel. Conversely, markets do not anticipate a significant interest rate hike from the Bank of England at this time, adding to the factors influencing the pound’s direction against the euro, particularly amid rising oil prices and global inflation expectations.
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