ECB Rate Hike Implemented Amid Ongoing Oil Price Concerns

The European Central Bank (ECB) announced its interest-rate decision on Thursday, September 10, raising its policy rate by 25 basis points to 2.50%. This marks the second rate hike this year.

Traders' bets on the ECB's rate path remained steady before the announcement, with the market broadly expecting this move. Investors are closely watching Lagarde's guidance on inflation at the subsequent press conference.

The euro fell by about 5 pips against the U.S. dollar in the short term after the decision, hitting a low of 1.1612 before rebounding.