020 7898 0500There was no significant economic data from the Eurozone yesterday, but the euro did weaken against the US dollar following the positive statement from the Federal Open Market Committee in the US on Wednesday.
Much of the attention was on the Eurogroup meeting as they discussed the size of new loans to Greece. The nation requires more than €7 billion in new loans from the bailout fund to repay debt maturing in July. However, the money will only be released once lenders agree Athens has pushed through agreed reforms.
Given the recent interest rate hike from the Federal Reserve and yesterday’s split vote at the BoE, will the pressure on the ECB to increase rates intensify? Unlikely in the short term but would be a game changer in the longer term.
