LONDON, July 18 — The euro’s plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades.
With Russian gas giant Gazprom having warned it cannot guarantee that the pipeline will function properly, European countries fear that Moscow will use a technical reason to permanently halt deliveries and put pressure on them. Like other central banks, the European Central Bank is seeking to avoid stifling the economy by raising rates too sharply.
It will announce its monetary policy decision on Thursday, and has indicated that it will raise rates for the first time in 11 years.
Source: Financial Digest (financialdigest.net)
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