Inflation projected to remain too high for too long.Forecasts done before market turmoil.
Elevated level of uncertainty reinforces importance of a data-dependent approach to ECB policy decision, which will be determined by its assessment of inflation outlook in light of incoming data and dynamics.Policy toolkit is fully equipped to provide liquidity support to eurozone financial system if needed.´´We see room for the USD to reverse this week’s losses and would look for a move back to GBP/USD1.19 on a 1-month view,´´ analysts at Rabobank said.
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