HiFX: Foreign Exchange Specialists

• Headlines

April 10, 2008

As widely expected the ECB left interest rates unchanged at 4.00% for the tenth consecutive month.  Eurozone inflation has surged to its highest level in nearly 16 years with annualized inflation for the 15-country region rising to 3.5% in March from 3.3% in February.  The focus now shifts to any accompanying comments from members of the ECB to gauge any insight to the committee’s thinking going forward.  Leading up to the rate announcement the Euro rallied to new all-time highs against the USD and Sterling, 1.5912 and 0.8029 respectively, but failed to hold on to its gains.