The ECB to Release its Interest Rate Decision Today

The ECB to Release its Interest Rate Decision Today

The market will be eagerly waiting for the release of the Interest Rate Decision, which will be made on Thursday at 12:15 GMT. The data will be closely scrutinised by the investors dealing with euro quotes, and the change in the interest rates will impact the market and the value of the currency. 

Since October 2023, the ECB has maintained the main financing rate at an all-time high of 4.5% and the deposit rate at 4% for four consecutive months. Despite the decline in inflation, the central bank remains concerned about wage growth and rising service costs.

During this upcoming policy meeting, the insights concerning the direction of the policy path and the economic outlook for the Eurozone will be disclosed. Financial experts are of the say that central bank is most likely to maintain its policy rates unchanged. 

The US to Publish Initial Jobless Claims

The US Department of Labor will be announcing the Initial Jobless Claims on Thursday at 12:30 GMT and the market participants who are trading in the US dollar quotes and those associated with the labour sector of the market are suggested to make a note of the changes in the reading of the indicator. Top economists are expecting 223000 individuals will be filing to receive unemployment insurance benefits for the first time over the last week. Furthermore, when the indicator was revealed on 4th Apr 2024 at 12:30 GMT, it stood at 221000. So, now if there is an increase in the readings of the indicator, it will have an unfavourable impact on the US dollar quotes.

FOMC Member Williams to Deliver Speech

According to the Federal Reserve Bank of New York, the FOMC member will be giving a speech on Thursday at 12:45 GMT. The talk may comprise hints regarding possible future changes in the monetary policy of the Fed. Committee members of FOMC will be voting on interest rates, deciding suitable monetary policy measures and assessing the risks to the long-term goals of price stability and sustained economic growth.