Pressure is mounting on the European Central Bank to take action after inflation jumped to 5.1% in the eurozone in January.
Following this, the reaction of the head of the Central Bank, Christine Lagarde, to the new data is expected tomorrow. The President of the ECB will give a press conference after the end of the meeting of the bank’s board of directors.
It is recalled that the ECB claims that the rise in inflation is temporary, but has been forced several times so far to revise its forecasts upwards.
Thus, the futures market anticipates an increase in interest rates by 0.3% during 2022. Under the influence of the above, European bond prices fell today, resulting in a further increase in their yields.
In the domestic bond market, and more specifically, in the Electronic Transaction System of the Bank of Greece (HDAT) today were recorded transactions of 84 million euros, of which only 20 million euros related to purchase orders.
The yield on the 10-year benchmark bond stood at 1.92% from 1.90% yesterday, compared to 0.04% of the corresponding German bond, resulting in a margin of 1.88% from 1.87%.
In the foreign exchange market, the euro is moving higher against the dollar as the European currency traded early in the afternoon at $ 1.1295 from the $ 1.1269 that the market opened. The growing geopolitical risks posed by the escalation of Western-Russian relations over the crisis in Ukraine favor the US currency.
The indicative price for the euro / dollar exchange rate announced by the European Central Bank stood at $ 1.1323
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