The euro/dollar rose sharply on Wednesday
Inflation in the euro area, as measured by the consumer price index, remained unchanged in February, as expected, and remained at 0.2% and 0.9% on a monthly and annual basis, respectively. Additional details of the report showed that the annual core consumer price index, which excludes volatile indicators of food and energy, remained unchanged at 1.1%. This value also coincided with the analysts ' estimate. Annual inflation in the European Union was 1.3% in February 2021, compared with 1.2% in January. In 2020, the rate was 1.6%. The price dropped slightly from the session highs after the release of this data.
The next FOMC meeting was held on Wednesday. The US regulator left the interest rate and the parameters of quantitative easing unchanged. The accompanying statement says policy will remain stimulative until inflation is modestly above 2% for a while. The Fed also noted that indicators of economic activity and employment rose after the previous decline. The median forecast of FOMC members did not show a rate increase until 2023. Only 7 of the 18 committee members predict a rate hike in 2023.