ECB Hike Steadies Euro Against Yen Amid Inflation Concerns

The Euro has steadied against the Japanese Yen after the European Central Bank (ECB) raised its deposit rate by a quarter point to 2.50%.

This decision was widely expected and helped stabilize the EUR/JPY cross, which had fallen sharply over the past week from levels above 180.00.

According to ECB President Christine Lagarde, the hike is 'a no-brainer' due to upward inflation forecasts and the Eurozone's resilience.

Lagarde warned that gas prices could rise due to supply disruptions or a cold winter, but stopped short of pre-committing to another rate hike.