EBRD trims growth outlook for the region, warns of more inflation pain to come

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Rising energy prices will pile more price pressure on consumers in emerging Europe, central Asia and North Africa, the European Bank for Reconstruction and Development said on Wednesday, while also trimming its 2023 growth forecast for the region.

The news adds strength to the market’s risk-off mood and the US dollar, which in turn weigh on the EUR/USD prices. That said, the major currency pair remains pressured around the recently flashed 20-year low near 0.9550 by the press time.

Also read: EUR/USD renews 22-year low as yields propel DXY, focus on ECB vs. Fed drama, energy crisis

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