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The ECB considers raising interest rates

The ECB considers raising interest rates | 06 October 2023

06 October 2023, EUR/USD

The ECB considers raising interest rates

EURUSD trading plan:

The European Central Bank may need to raise interest rates again if wages, profits or new supply snags boost inflation, ECB board member Isabel Schnabel said in an interview published. The ECB raised borrowing costs to record highs last month to rein in prices in the euro area, which are still growing at more than twice its 2% target after the bloc was hit by higher energy prices and supply snags last year. Schnabel said a recent moderation in inflation, which fell to its lowest level in two years at 4.3% in September, was "encouraging" but risks abounded, from stronger-than-expected wages or profits to new disruption to supply.

Investment idea: range 1.0500 -1.0600.

David Johnson
Analyst of «FreshForex» company
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