The EUR/MXN currency pair was mostly steady within a tight daily range on Wednesday ahead of the outcome of the European Central Bank’s policy meeting.
The ECB is largely expected to keep its main refinancing operations rate intact at 2.15% at its April 30th meeting.
And, the ECB deposit facility rate is expected to be kept at 2.00%.
The ECB’s March decision to hold rates was framed against a backdrop of uncertainty around inflation and growth linked to joint military operations by the United States and Israel against Iran.
ECB President Christine Lagarde had cautioned that the “increase in energy prices will drive inflation above 2% in the near term.”
A report by Reuters had suggested that the ECB might consider discussing an increase in key borrowing costs in April and could move to raise rates in June if elevated energy prices persist.
Meanwhile, MXN traders will be paying close attention to Mexico’s preliminary GDP growth figures for Q1 due out on Thursday.
The EUR/MXN currency pair was last down 0.02% on the day to trade at 20.3660.
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