ECB Rate Hike Expected to Have Limited Impact on Euro

The European Central Bank (ECB) is expected to raise its deposit rate by 25 basis points to 2.50% on Thursday, but this move may not have a significant impact on the euro.

The market has already priced in the expected increase, with the EUR/USD exchange rate near $1.1643 and the Euro Stoxx 50 index at around 6,317.5.

However, the ECB's new inflation projections and President Christine Lagarde's comments on the next interest rate hike are what will truly move the market.