ECB Policymaker Signals Further Rate Hikes if Inflation Worsens

European Central Bank Governing Council member Gabriel Makhlouf told the Financial Times that the ECB must be prepared for more interest rate rises if inflation "starts moving in the wrong direction." He also anticipates a "slight" upgrade to the euro zone's growth forecast this year. Such hawkish signals from the ECB could strengthen the Euro, potentially weakening the US Dollar Index (DXY) and offering support to international gold prices, which may influence local gold and USD/PKR rates.

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