The European Central Bank left its rate at 4% and the Bank of England kept its rate at 5.25% as higher food and energy prices drive inflation higher.
The European Central Bank and the Bank of England left their key rates unchaged as both central banks fight rising inflation in the region. The ECB left rates at 4% and the BoE left its rates at 5.25%, highest among the G7 nations. Pound and euro rallied against the dollar after the rate decision. Euro has increased nearly 20% against dollar in the last fourteen months and continues to reach new highs on rate disparities.
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