FRANKFURT (dpa-AFX) – The euro started the new trading week hardly changed on Monday. In the morning, the common currency was trading at 1.0563 US dollars, the same level as Friday evening. The European Central Bank (ECB) recently set the reference rate at $1.0541.
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After the ECB’s interest rate decision last week, the next important decision is due on Wednesday, namely that of the Fed, wrote analyst Antje Praefcke from Commerzbank. “In all likelihood, the US Federal Reserve will keep the key interest rate unchanged at 5.25 to 5.50 percent, after all, inflation is currently on track towards the target.” Before the Fed even considers raising interest rates again, it will probably want to be sure whether growth is really holding up well.
Otherwise, the focus at the beginning of the week is on inflation figures from Spain. Individual German federal states also report on the monthly inflation rates./la/stk